Martin Marietta Materials, Inc. (NYSE:MLM) announced today the
pricing of its offering of $300 million aggregate principal amount
of Floating Rate Senior Notes due 2019 (the “Floating Rate Notes”),
$500 million aggregate principal amount of 3.500% Senior Notes due
2027 (the “2027 Fixed Rate Notes”) and $600 million aggregate
principal amount of 4.250% Senior Notes due 2047 (the “2047 Fixed
Rate Notes” and, together with the 2027 Fixed Rate Notes and the
Floating Rate Notes, the “Senior Notes”). The Floating Rate Notes
will mature on December 20, 2019, will bear interest at a per annum
floating rate, reset quarterly, equal to three-month LIBOR for U.S.
dollars plus 0.500% and will be issued at 100.000% of par value.
Interest on the Floating Rate Notes will be paid quarterly in
arrears on March 20, June 20, September 20 and December 20,
commencing March 20, 2018. The 2027 Fixed Rate Notes will mature on
December 15, 2027, will have an interest rate of 3.500% and will be
issued at 99.750% of par value. Interest on the 2027 Fixed Rate
Notes will be paid semiannually on June 15 and December 15,
commencing June 15, 2018. The 2047 Fixed Rate Notes will mature on
December 15, 2047, will have an interest rate of 4.250% and will be
issued at 99.681% of par value. Interest on the 2047 Fixed Rate
Notes will be paid semiannually on June 15 and December 15,
commencing June 15, 2018. The Senior Notes will be sold pursuant to
Martin Marietta’s shelf registration statement, base prospectus and
prospectus supplement on file with the Securities and Exchange
Commission (“SEC”).
The net proceeds of the offering are expected to be used to
finance, in part, the previously announced acquisition of Bluegrass
Materials Company and to refinance in full at maturity Martin
Marietta’s existing 6.60% Senior Notes due 2018. Closing of the
offering is expected to occur on December 20, 2017, subject to the
satisfaction of customary closing conditions.
Deutsche Bank Securities Inc., J.P. Morgan Securities LLC, Wells
Fargo Securities, LLC, BB&T Capital Markets, a division of
BB&T Securities, LLC and SunTrust Robinson Humphrey, Inc. will
serve as underwriters and joint book-running managers for the
offering.
Martin Marietta has filed a shelf registration statement on Form
S-3 (including a base prospectus) with the SEC for the offering to
which this communication relates. Before you invest, you should
read the prospectus in that registration statement and the
prospectus supplement thereto and the other documents that Martin
Marietta has filed or will file with the SEC for more complete
information about Martin Marietta and this offering. The offering
will be made only pursuant to the terms of the relevant prospectus
supplement (including the prospectus). These documents will be
available at no charge by visiting EDGAR on the SEC website
at www.sec.gov. Alternatively,
these documents will be made available upon request to any
underwriter participating in the offering. Interested parties may
obtain a prospectus and the related prospectus supplement from
Deutsche Bank Securities Inc., 60 Wall Street, New York, New York
10005, Attn: Prospectus Group by telephone at (800) 503-4611 or by
email at prospectus.CPDG@db.com; J.P.
Morgan Securities LLC, 383 Madison Avenue, New York, New York
10179, Attn: Investment Grade Syndicate Disk—3rd Floor or by
telephone at (212) 834-4533; Wells Fargo Securities, LLC, 608 2nd
Avenue South, Suite 1000, Minneapolis, Minnesota 55402, Attn: WFS
Customer Service, by telephone at (800) 645-3751 or by email at
wfscustomerservice@wellsfargo.com;
BB&T Capital Markets, a division of BB&T Securities, LLC,
901 East Byrd Street, Suite 300, Richmond, Virginia 23219, Attn:
Keith E. Pomroy, by telephone at (844) 499-2713 or by email at
prospectusrequests@bbandtcm.com; and
SunTrust Robinson Humphrey, Inc., 303 Peachtree Street, NE,
Atlanta, Georgia 30308, Attn: Prospectus Department, by telephone
at (800) 685-4786 or by email at STRHdocs@SunTrust.com.
This press release does not constitute an offer to sell or a
solicitation of an offer to buy any securities. Offers of
securities will be made only by means of a prospectus filed with
the SEC. The prospectus is part of a shelf registration statement
that has become effective under the Securities Act of 1933, as
amended.
COMPANY DESCRIPTION
Martin Marietta is an American-based company and a leading
supplier of building materials, including aggregates, cement, ready
mixed concrete and asphalt. Through a network of operations
spanning 26 states, Canada and the Bahamas, dedicated Martin
Marietta teams supply the resources necessary for building the
solid foundations on which our communities thrive. Martin
Marietta’s Magnesia Specialties business provides a full range of
magnesium oxide, magnesium hydroxide and dolomitic lime
products.
Cautionary Statement About Forward-Looking Statements
This release contains statements which, to the extent they are
not recitations of historical fact, constitute forward-looking
statements within the meaning of federal securities law. Investors
are cautioned that all forward-looking statements involve risks and
uncertainties, and are based on assumptions that we believe in good
faith are reasonable at the time the statements are made, but which
may be materially different from actual results. Investors can
identify these statements by the fact that they do not relate only
to historic or current facts. The words “may”, “will”, “could”,
“should”, “anticipate”, “believe”, “estimate”, “expect”,
“forecast”, “intend”, “outlook”, “plan”, “project”, “scheduled” and
similar expressions in connection with future events or future
operating or financial performance are intended to identify
forward-looking statements. Any or all of the Company’s
forward-looking statements in this release may turn out to be
wrong.
Statements and assumptions on future revenues, income and cash
flows, performance, economic trends, the outcome of litigation,
regulatory compliance and environmental remediation cost estimates
are examples of forward-looking statements. Numerous factors could
affect our forward-looking statements and actual performance. In
addition, other risks and uncertainties not presently known to us
or that we currently consider immaterial could affect the accuracy
of our forward-looking statements.
Except as required by law, we undertake no obligation to update
any forward-looking statements in order to reflect any event or
circumstance that may arise after the date of this prospectus.
You should consider these forward-looking statements in light of
risk factors discussed in the preliminary prospectus supplement
filed with the SEC on December 6, 2017 and those in our Annual
Report on Form 10-K for the year ended December 31, 2016, our
Current Report on Form 8-K filed on May 12, 2017 and other periodic
filings made with the SEC. All of our forward-looking statements
should be considered in light of these factors. In addition, other
risks and uncertainties not presently known to us or that we
consider immaterial could affect the accuracy of our
forward-looking statements.
MLM-G
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version on businesswire.com: http://www.businesswire.com/news/home/20171207005761/en/
Investors:Martin Marietta Materials, Inc.Suzanne Osberg,
919-783-4691Vice President, Investor
RelationsSuzanne.Osberg@martinmarietta.com
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