Martin Marietta Materials offers $600 million notes due 2020, 2027

By Devika Patel

Knoxville, Tenn., May 17 – Martin Marietta Materials Inc. will price a $600 million offering of senior notes in two tranches, according to a 424B5 filed with the Securities and Exchange Commission.

The company is selling one fixed-rate tranche due 2027 and a floating-rate tranche due 2020.

The fixed-rate notes feature a make-whole call and then a par call. The floaters are non-callable.

Deutsche Bank Securities Inc., J.P. Morgan Securities LLC, BB&T Capital Markets, SunTrust Robinson Humphrey Inc. and Wells Fargo Securities LLC are the bookrunners.

Proceeds will be used to refinance at maturity the company’s $300 million of floating-rate notes due June 30, 2017, to repay about $200 million of debt under its revolving credit facility and to repay about $95 million of debt under its trade receivables facility.

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

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