Martin Marietta signs USD 1.5 billion term loan commitment for Lhoist North America deal
MLM•Pricing and credit facility covenant changes
Pricing is Term SOFR or base rate plus a ratings-based margin, and a commitment fee applies on undrawn commitments from Oct. 25, 2026.
A July 10, 2026 amendment to its USD 800 million revolving credit facility lifts the maximum leverage ratio to 4.75x temporarily post-close. The leverage covenant steps down to 4.25x for the next three quarters, then 3.75x thereafter under both facilities.
Term loan commitment for Lhoist North America acquisition
Martin Marietta entered a Term Credit Agreement on July 15, 2026 for a USD 1.5 billion three-year senior unsecured term loan, tied to its Lhoist North America acquisition.
Proceeds may fund part of the acquisition cash consideration, as well as fees and expenses. The facility is not subject to amortization.
