On July 10, Martin Marietta Materials (MLM) amended its existing $800 million revolving credit facility, and on July 15 it entered into a new $1.5 billion three-year term loan facility, both to fund its acquisition of Lhoist North America. Both agreements set a maximum leverage ratio that starts at 4.75x for the first three quarters after closing, then steps down to 4.25x and eventually 3.75x.
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