RALEIGH, N.C.--(BUSINESS WIRE)--
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 2020 (the "Floating Rate Notes") and $300
million aggregate principal amount of Senior Notes due 2027 (the "Fixed
Rate Notes" and, together with the Floating Rate Notes, the "Senior
Notes"). The Floating Rate Notes will mature on May 22, 2020, will bear
interest at a per annum floating rate, reset quarterly, equal to
three-month LIBOR for U.S. dollars plus 0.65% and will be issued at 100%
of par value. Interest will be paid quarterly in arrears on February 22,
May 22, August 22 and November 22, commencing August 22, 2017. The Fixed
Rate Notes will mature on June 1, 2027, will have an interest rate of
3.450% and will be issued at 99.798% of par value. Interest will be paid
semiannually on the 1st day of June and December, commencing December 1,
2017. The Senior Notes will be sold pursuant to Martin Marietta's shelf
registration statement and the base prospectus on file with the
Securities and Exchange Commission ("SEC"). The net proceeds of the
offering are expected to be used to (i) refinance in full at maturity
Martin Marietta's existing floating rate notes scheduled to mature on
June 30, 2017, (ii) repay approximately $200 million of the debt
outstanding under Martin Marietta's revolving credit facility and (iii)
repay approximately $95 million of the debt outstanding under Martin
Marietta's trade receivables facility. Closing of the offering is
expected to occur on May 22, 2017, subject to customary closing
conditions.
Deutsche Bank Securities Inc., J.P. Morgan Securities LLC, BB&T Capital
Markets, a division of BB&T Securities, LLC, SunTrust Robinson Humphrey,
Inc. and Wells Fargo Securities, LLC 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; 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;
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;
and 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.
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 cement, ready mixed concrete and asphalt.
Through a network of operations spanning 29 states, Canada, The Bahamas,
and the Caribbean Islands, 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 May 17, 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
View source version on businesswire.com: http://www.businesswire.com/news/home/20170518005377/en/
Martin Marietta Materials, Inc.
Elisabeth L. Eisleben, 919-510-4776
Elisabeth.Eisleben@martinmarietta.com
Source: Martin Marietta Materials, Inc.
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