Martin Marietta Materials issues $5.5 billion in senior notes for Lhoist acquisition
Martin Marietta Materials, Inc. (NYSE: MLM) has issued $5.5 billion in senior unsecured notes to finance its acquisition of Lhoist North America, Inc. The debt issuance is substantial for the construction materials company, which had $6.35 billion in total debt at the end of its most recent quarter. The stock is trading near its 52-week low of $523.48 as investors navigate the acquisition.
Martin Marietta issued five tranches of senior notes with varying maturity dates and interest rates. The notes are senior unsecured obligations, not guaranteed by subsidiaries, and rank equally with existing and future senior indebtedness. Proceeds from the notes, along with a $1.5 billion term loan facility, will be used to pay for the acquisition.
Despite the increased debt, Martin Marietta has maintained a strong record of dividend increases for 10 consecutive years. The offering was completed under an existing base indenture with Regions Bank as trustee, and closing is expected in the third quarter of 2026.
Written by urgent.news from Investing.com's reporting — not their text. Machine-written — it may contain errors, so check the original before relying on it.
