Martin Marietta to redeem Texas Industries’ 9¼% notes via offering

By Tali Rackner

Norfolk, Va., June 23 – Martin Marietta Materials, Inc. plans to redeem all $650 million of Texas Industries, Inc.’s 9¼% senior notes due 2020 with the proceeds from a senior notes offering, according to a press release.

The redemption will also be funded with cash on hand and drawings under its trade receivables facility and/or its revolving credit facility.

This comes after Martin Marietta’s announced plans to merge with Texas Industries.

Martin Marietta is a Raleigh, N.C.-based producer of aggregates for the construction industry.

Texas Industries is a Dallas-based producer of heavy construction materials.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.