New Issue: Martin Marietta prices $500 million 2.5% 10-year notes at 170 bps over Treasuries

By Cristal Cody

Tupelo, Miss., March 5 – Martin Marietta Materials Inc. sold $500 million of 2.5% 10-year senior notes (Baa3/BBB+/BBB) on Thursday at a spread of 170 basis points over Treasuries, according to an FWP filing with the Securities and Exchange Commission.

The notes were sold at 98.864 to yield 2.63%.

Deutsche Bank Securities Inc., J.P. Morgan Securities LLC, Wells Fargo Securities, LLC and SunTrust Robinson Humphrey, Inc. were the bookrunners.

Proceeds will be used for general corporate purposes, including to repay at maturity $300 million of the company’s floating-rate notes due May 22, 2020.

The producer of construction aggregates is based in Raleigh, N.C.

Issuer:	Martin Marietta Materials Inc.
Amount:	$500 million
Description:	Senior notes
Maturity:	March 15, 2030
Bookrunners:	Deutsche Bank Securities Inc., J.P. Morgan Securities LLC, Wells Fargo Securities, LLC and SunTrust Robinson Humphrey, Inc.
Senior co-managers:	PNC Capital Markets LLC and Regions Securities LLC
Co-managers:	MUFG, Comerica Securities, Inc. and Siebert Williams Shank & Co., LLC
Coupon:	2.5%
Price:	98.864
Yield:	2.63%
Spread:	Treasuries plus 170 bps
Call features:	Make-whole call before Dec. 15, 2029 at Treasuries plus 30 bps; thereafter at par
Trade date:	March 5
Settlement date:	March 16
Ratings:	Moody’s: Baa3
	S&P: BBB+
	Fitch: BBB
Distribution:	SEC registered

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