The Firm recently represented the underwriters, led by the joint book-running managers including J.P. Morgan Securities LLC and Wells Fargo Securities, LLC, in connection with a registered offering by Martin Marietta Materials, Inc. (“Martin Marietta”) of $300 million aggregate principal amount of its floating rate Senior Notes due 2019, $500 million aggregate principal amount of its 3.5% Senior Notes due 2027 and $600 million aggregate principal amount of its 4.25% Senior Notes due 2047. The net proceeds from the offering are expected to be used to finance, in part, the previously announced acquisition of Bluegrass Materials and to refinance in full Martin Marietta’s existing 6.6% Senior Notes due 2018. The closing of the offering occurred on December 20, 2017.
Martin Marietta is an American-based company and a leading supplier of building materials, including aggregates, cement, ready-mixed concrete and asphalt. Through a network of operations spanning 33 states, Canada, the Bahamas and the Caribbean, dedicated Martin Marietta teams supply the resources necessary for building the solid foundations on which communities thrive. Martin Marietta’s Magnesia Specialties business provides a full range of magnesia-based chemical products and dolomitic lime products.
The Simpson Thacher team for the transaction included Art Robinson, David Azarkh, Nakita Cuttino, Matt Craine and Susan Wang (Capital Markets); Christopher Murray (Tax); Mike Isby (Environmental); Larry Moss and Eric Wolf (Executive Compensation and Employee Benefits); and Andrew Pagliughi (FINRA and Blue Sky).