RALEIGH, N.C., March 05, 2020 (GLOBE NEWSWIRE) -- Martin Marietta Materials, Inc. (NYSE:MLM) announced today the pricing of its offering of $500 million aggregate principal amount of 2.500% Senior Notes due 2030. The Senior Notes will mature on March 15, 2030, will have an interest rate of 2.500% and will be issued at 98.864% of par value. Interest on the Senior Notes will be paid semiannually on March 15 and September 15, commencing September 15, 2020. 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.

The net proceeds of the offering are expected to be used for general corporate purposes, which will include, among other things, repayment at maturity of Martin Marietta’s existing floating rate notes due May 2020. Closing of the offering is expected to occur on March 16, 2020, subject to the satisfaction of customary closing conditions.

Deutsche Bank Securities Inc., J.P. Morgan Securities LLC, Wells Fargo Securities, LLC and SunTrust Robinson Humphrey, Inc. will serve as underwriters and joint book-running managers for the offering.

Company Description

Martin Marietta, a member of the S&P 500 Index, 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 27 states, Canada and the Bahamas, dedicated Martin Marietta teams supply the resources 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.