Martin Marietta Materials announced the pricing of a debt offering totaling $1.5 billion in aggregate principal amount of senior notes. The offering includes $750 million of 5.150% Senior Notes due 2034 and $750 million of 5.500% Senior Notes due 2054. Interest on both series of notes will be paid semiannually, commencing June 1, 2025.
The 2034 Notes will mature on December 1, 2034, and were issued at 99.266% of par value. The 2054 Notes will mature on December 1, 2054, and were issued at 98.006% of par value. This financing move is expected to close on November 4, 2024, subject to customary closing conditions.
A portion of the net proceeds from this offering is designated for the repayment of all outstanding borrowings under the company's revolving credit facility and trade receivables securitization facility. The remaining net proceeds are intended for general corporate purposes, which may include financing potential acquisitions, land purchases, or other capital needs, supporting Martin Marietta's ongoing strategic growth.
The content on BeyondSPX is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.