Form 8-K · Current report
Martin Marietta Materials 8-K, filed Jul 15, 2026
- Filed
- CIK
- 0000916076
- Accession no.
- 0000950157-26-000802
Summary
Martin Marietta Materials amended its $800 million five-year revolving credit facility on July 10, 2026 and entered a $1.5 billion three-year senior unsecured term credit agreement on July 15, 2026, both with JPMorgan Chase Bank as administrative agent, with the term facility's proceeds intended to fund part of the cash consideration for its previously announced acquisition of Lhoist North America. The agreements set a leverage ratio covenant of 4.75:1.00 for the first three fiscal quarters after the acquisition closes, stepping down to 4.25:1.00 and then 3.75:1.00.
Key points
- The Amendment No. 1 to the Revolving Credit Agreement modifies the financial covenant to allow a maximum leverage ratio of 4.75:1.00 for the first three fiscal quarters after the Lhoist North America acquisition closes, 4.25:1.00 for the next three, and 3.75:1.00 thereafter.
- The $1.5 billion term facility matures three years after funding, is not subject to amortization, and is subject to consummation of the acquisition and other customary conditions.
- Term loans bear interest at Term SOFR or the Base Rate plus a margin set by a ratings-based pricing grid, with a commitment fee on undrawn commitments from October 25, 2026.
- The Term Credit Agreement allows debt from certain acquisitions to be excluded from the leverage ratio for four quarters if the ratio without the exclusion stays at or below 4.25:1.00, and permits cash and cash equivalents of up to $500 million to reduce consolidated debt when no amounts are outstanding under the revolving and receivables securitization facilities.
Written by an AI model from the filing text. It can be incomplete or wrong; the filing on SEC.gov is the record.
Items reported
- 1.01Entry into a Material Definitive Agreement
- 2.03Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant
- 9.01Financial Statements and Exhibits
From the filing
Item 1.01 Entry into a Material Definitive Agreement Amendment No. 1 to Credit Agreement On July 10, 2026, Martin Marietta Materials, Inc. (the “Corporation”) entered into Amendment No. 1 (the “Amendment”) with JPMorgan Chase Bank, N.A. (“JPMCB”) and certain financial institutions, as lenders, to the Corporation’s $800,000,000 five-year senior unsecured revolving credit facility with JPMCB, as administrative agent, and the lenders and issuing lenders party thereto (the “Revolving Credit Agreement”, and the facility thereunder, the “Revolving Facility”). …
An excerpt of the text as filed with the SEC, cut for length.
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