Martin Marietta prices $5.5 billion in senior notes to fund acquisition

Martin Marietta Materials, Inc. (NYSE: MLM) has priced a $5.5 billion multi-tranche senior notes offering, according to a press release, with proceeds earmarked to help fund its previously announced acquisition of Lhoist North America, Inc.

The offering consists of five tranches: $750 million of 4.850% Senior Notes due 2029, $1.25 billion of 5.200% Senior Notes due 2032, $1 billion of 5.400% Senior Notes due 2034, $1.5 billion of 5.625% Senior Notes due 2036, and $1 billion of 6.375% Senior Notes due 2056. All tranches were priced at a slight discount to par value.

Net proceeds from the notes, combined with borrowings under a $1.5 billion senior unsecured term loan facility, will be used to pay the cash consideration for the acquisition of all outstanding equity interests in Lhoist North America, Inc. The offering is expected to close in the third quarter of 2026, subject to customary closing conditions.

Goldman Sachs & Co. LLC, J.P. Morgan Securities LLC, Deutsche Bank Securities Inc., and Truist Securities, Inc. are serving as underwriters and joint book-running managers for the offering.

The notes will be sold pursuant to a shelf registration statement filed with the Securities and Exchange Commission.

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