Martin Marietta Materials Inc. Secures $1.5B Revolving Credit Facility

What Happened Martin Marietta Materials, Inc. announced it entered into a Credit Agreement dated August 18, 2026, establishing a $1,500,000,000 five-year senior unsecured revolving credit facility (the “Revolving Facility”) with JPMorgan Chase Bank, N.A. as administrative agent and the participating lenders. The Revolving Facility replaces the company’s prior credit agreement (dated December 21, 2021) and matures on August 18, 2031. Borrowings bear interest at Term SOFR-based or base rate-based options plus a margin set by a ratings-based pricing grid.

Key Details

• Facility size: $1,500,000,000 five-year senior unsecured revolving facility; maturity date August 18, 2031.
• Interest: At borrower’s option, rates tied to Term SOFR or a base rate, plus a margin determined by a ratings-based grid.
• Leverage covenant: Maximum Leverage Ratio generally capped at 3.75:1.00, with temporary higher caps after the previously announced acquisition of Lhoist North America — 4.75:1.00 for the first three fiscal quarters post-acquisition, 4.25:1.00 for the next three quarters, then 3.75:1.00 thereafter. Certain acquisition-related debt may be excluded from the ratio for up to four quarters under defined conditions.
• Cash reduction: If no amounts are outstanding under both the Revolving Facility and the company’s accounts receivable securitization facility, consolidated debt may be reduced by cash and cash equivalents up to $500,000,000 for Leverage Ratio calculations.

Why It Matters This credit facility secures multi-year committed liquidity and replaces the prior agreement, giving Martin Marietta access to up to $1.5 billion of revolving borrowing capacity. The covenant structure includes temporary flexibility tied to the company’s planned acquisition of Lhoist North America, which affects allowable leverage levels in the near term. Investors should note the leverage limits, maturity timeline, and that the facility is unsecured—factors that affect the company’s financial flexibility and borrowing costs going forward.