Martin Marietta Materials Inc 8-K, filed Mar 16, 2020
Martin Marietta Materials Inc (MLM)
8-K
2020-03-16
For: 2020-03-16
View Original
Added on
April 07, 2026
About this 8-K
Martin Marietta Materials Inc filed this 8-K on March 16, 2020.
Items reported
- Item 1.01: Entered into a material agreement
- Item 2.03: New debt or off-balance-sheet obligation
- Item 8.01: Other events
- Item 9.01: Financial statements and exhibits
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): March 16, 2020
(Exact name of registrant as specified in its charter)
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(State or Other Jurisdiction
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(Commission
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(IRS Employer
Identification No.) |
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(Address of principal executive offices)
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(Zip Code)
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(919 ) 781-4550
(Registrant’s telephone number, including area code)
Not Applicable
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions
(see General Instruction A.2. below):
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Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
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Securities registered pursuant to Section 12(b) of the Act:
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Title of each class
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Trading Symbol(s)
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Name of each exchange
on which registered |
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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised
financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 1.01. Entry into a Material Definitive Agreement.
Information set forth under Item 2.03 of this Current Report on Form 8-K is incorporated herein by reference.
Item 2.03. Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.
On March 16, 2020, Martin Marietta Materials, Inc. (“Martin Marietta”) issued $500 million aggregate principal amount of 2.500% Senior Notes due 2030
(the “Senior Notes”) pursuant to a base indenture, dated as of May 22, 2017 (the “Base Indenture”), as amended and supplemented from time to time, including by the Third Supplemental Indenture, dated as of March 16, 2020 (the “Third Supplemental
Indenture” and, together with the Base Indenture, the “Indenture”) between Martin Marietta and Regions Bank, as trustee (the “Trustee”), governing the Senior Notes.
The Senior Notes will mature on March 15, 2030 and will have an interest rate of 2.500%. Interest will be paid semiannually on the 15th day of March and
September, commencing September 15, 2020.
The Senior Notes are Martin Marietta’s senior unsecured obligations and rank equally in right of payment with all of its existing and future senior
indebtedness and will rank senior in right of payment to all of its future subordinated indebtedness. The Senior Notes are effectively subordinated to all of its existing and future secured indebtedness to the extent of the value of the assets
securing such indebtedness. The Senior Notes are not guaranteed by any of Martin Marietta’s subsidiaries and are structurally subordinated to all of the existing and future indebtedness and other liabilities (including trade accounts payable) and
preferred equity of Martin Marietta’s subsidiaries.
The net proceeds of the offering are expected to be used for general corporate purposes, which will include, among other uses, repayment at maturity of
approximately $300 million aggregate principal amount of Martin Marietta’s existing floating rate notes due 2020.
Optional Redemption. Prior to December 15, 2029 (the “Par Call Date”), Martin Marietta may redeem the Senior Notes, at its option, at any time in whole or from time to time in part at a price equal to the greater
of: (i) 100% of the principal amount of the Senior Notes to be redeemed and (ii) the sum of the present values of the principal amount of the Senior Notes to be redeemed and the remaining scheduled payments of interest thereon after the date of
optional redemption (an “Optional Redemption Date”) through the Par Call Date (assuming, for this purpose, that the Senior Notes are scheduled to mature on the Par Call Date), excluding interest, if any, accrued thereon to such Optional Redemption
Date, discounted to such Optional Redemption Date on a semiannual basis (assuming a 360-day year consisting of twelve 30-day months) at the Treasury Rate (as defined in the Indenture) plus 30 basis points (or 0.300%) plus unpaid interest, if any,
accrued thereon to, but excluding, such Optional Redemption Date. On or after the Par Call Date and prior to maturity, Martin Marietta may redeem the Senior Notes, at its option, at any time in whole or from time to time in part at a price equal
to 100% of the principal amount of the Senior Notes to be redeemed, plus unpaid interest, if any, accrued thereon to, but excluding, the Optional Redemption Date.
Change of Control Repurchase Event. If a Change of Control Repurchase Event (as defined in the Indenture) occurs, unless Martin Marietta has exercised its right to redeem the Senior Notes in full, Martin Marietta will be required to offer to repurchase all of the
outstanding Notes at a repurchase price equal to 101% of their principal amount, plus unpaid interest, if any, accrued thereon to, but excluding, the date of repurchase.
Other Covenants. The Indenture contains covenants that restrict Martin Marietta’s ability, with certain exceptions, to (i) incur debt secured by liens, (ii) engage in sale and leaseback transactions and (iii)
merge or consolidate with or into, or transfer all or substantially all of the assets of Martin Marietta and its subsidiaries, taken as a whole, to, another entity. These covenants are subject to a number of important exceptions and
qualifications, as described in the Indenture.
Events of Default. The
Indenture provides for customary events of default (subject in certain cases to customary grace and cure periods), which include non-payment, breach of covenants in the Indenture and certain events of bankruptcy and insolvency. Generally, if an
event of default occurs, the Trustee or holders of at least 25% in aggregate principal amount of the then outstanding Senior Notes may declare the principal of all such outstanding Senior Notes and any accrued interest thereon immediately due and
payable.
The Senior Notes have been registered under the Securities Act of 1933, as amended (the “Act”), pursuant to an effective shelf registration statement on
Form S-3ASR (File No. 333-217991), as supplemented by the prospectus supplement dated March 5, 2020, filed with the Securities and Exchange Commission under the Act.
The foregoing description of the Indenture (including the form of Senior Notes) does not purport to be complete and is qualified in its entirety by
reference to the full text of the Base Indenture and the Third Supplemental Indenture (including the form of Senior Notes), which are attached hereto as Exhibits 4.1, 4.2 and 4.3 and incorporated by reference herein.
Item 8.01. Other Events.
In connection with the Senior Notes offering, copies of the legal opinions of Robinson, Bradshaw & Hinson, P.A. and Cravath, Swaine & Moore LLP
relating to the Senior Notes are attached hereto as Exhibits 5.1 and 5.2, respectively.
Item 9.01. Financial
Statements and Exhibits.
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(d) Exhibits
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Cover Page Interactive Data File (embedded within the Inline XBRL document).
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its
behalf by the undersigned hereunto duly authorized.
| MARTIN MARIETTA MATERIALS, INC. | ||||
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By:
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/s/ James A. J. Nickolas | ||
| Name: | James A. J. Nickolas | |||
| Title: |
Senior Vice President and Chief
Financial Officer
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Date: March 16, 2020
Exhibit 4.2
MARTIN MARIETTA MATERIALS, INC.,
as Issuer
and
Regions Bank, as Trustee
THIRD SUPPLEMENTAL INDENTURE
Dated as of March 16, 2020
to
INDENTURE
Dated as of May 22, 2017
2.500% Senior Notes due 2030
TABLE OF CONTENTS
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ARTICLE I
Definitions
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Section 1.1
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Definition of Terms
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1
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Section 1.2
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Additional Definitions
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2
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Section 1.3
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Other Definitions
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ARTICLE II
General Terms and Conditions of the Notes
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Section 2.1
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Designation and Principal Amount
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Section 2.2
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Maturity
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Section 2.3
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Further Issues
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Section 2.4
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Form and Payment
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Section 2.5
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Global Securities
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Section 2.6
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Interest
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Section 2.7
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Authorized Denominations
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Section 2.8
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Optional Redemption of the Notes
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Section 2.9
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Appointment of Agents
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ARTICLE III
Additional Covenants
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Section 3.1
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Limitations on Liens
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Section 3.2
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Limitations on Sale and Lease‑Back Transactions
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Section 3.3
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Change of Control Repurchase Event
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Section 3.4
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Maintenance of Office or Agency
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ARTICLE IV
Form of Notes
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Section 4.1
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Form of Notes
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ARTICLE V
Original Issue of Notes
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Section 5.1
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Original Issue of Notes
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ARTICLE VI
Miscellaneous
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Section 6.1
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Ratification of Indenture
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Section 6.2
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Effect of Supplemental Indenture
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Section 6.3
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Trustee Not Responsible for Recitals
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Section 6.4
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Governing Law
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Section 6.5
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Separability
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Section 6.6
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Counterparts
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EXHIBIT A – Form of Notes
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A‑1
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THIRD SUPPLEMENTAL INDENTURE, dated as of March 16, 2020 (this “Supplemental Indenture”), between Martin Marietta Materials, Inc., a corporation duly organized and existing under the laws of the State of North Carolina, having its principal
office at 2710 Wycliff Road, Raleigh, North Carolina 27607‑3033 (the “Corporation”), and Regions Bank, as trustee (the “Trustee”).
WHEREAS, the Corporation executed and delivered the indenture,
dated as of May 22, 2017, to the Trustee (the “Indenture”), to provide for the issuance of the Corporation’s debt securities (the “Securities”), to be issued in one or more Series;
WHEREAS, pursuant to the terms of the Indenture, the Corporation
desires to provide for the establishment of a new Series of its notes under the Indenture to be known as its “2.500% Senior Notes due 2030”, the form and substance and the terms, provisions and conditions thereof to be set forth as provided in the
Indenture and this Supplemental Indenture;
WHEREAS, the Board of Directors of the Corporation, pursuant to
(i) resolutions of the Board of Directors of the Corporation duly adopted on May 8, 2017 and February 20, 2020, (ii) resolutions of the Finance Committee of the Board of Directors of the Corporation duly adopted on May 5, 2017 and February 20, 2020,
(iii) the written consent of the Chairman of the Finance Committee of the Corporation on March 4, 2020 and (iv) resolutions of the authorized officers of the Corporation duly adopted on March 5, 2020, has duly authorized the issuance of the Notes, and
has duly authorized the proper officers of the Corporation to execute any and all appropriate documents necessary or appropriate to effect each such issuance;
WHEREAS, this Supplemental Indenture is being entered into
pursuant to the provisions of Section 2.3 and Section 9.1(6) of the Indenture;
WHEREAS, the Corporation has requested that the Trustee execute
and deliver this Supplemental Indenture; and
WHEREAS, all things necessary to make this Supplemental Indenture
a valid agreement of the Corporation, in accordance with its terms, and to make the Notes, when executed by the Corporation and authenticated and delivered by the Trustee, the valid obligations of the Corporation, have been performed, and the execution
and delivery of this Supplemental Indenture has been duly authorized in all respects.
NOW THEREFORE, in consideration of the premises and the purchase
and acceptance of the Notes by the Holders thereof, and for the purpose of setting forth, as provided in the Indenture, the forms and terms of the Notes and to make other modifications to the Indenture pertaining to the Notes, the Corporation and the
Trustee hereby enter into this Supplemental Indenture, which modifies the Indenture with respect to (and only with respect to) the Notes, as follows:
ARTICLE I
Definitions
SECTION 1.1 Definition of Terms. Unless the context otherwise requires:
(a) each term defined in the Indenture has the
same meaning when used in this Supplemental Indenture;
(b) the singular includes the plural and vice
versa; and
(c) headings are for convenience of reference
only and do not affect interpretation.
SECTION 1.2 Additional Definitions. Solely for the purposes of this Supplemental Indenture in connection with the Notes, the following terms shall have the following meanings:
“Attributable Debt” for a lease means the carrying value of the capitalized rental obligation determined under U.S. generally accepted accounting
principles, whether or not such obligation is required to be shown on the balance sheet as a long‑term liability. The carrying value may be reduced by the capitalized value of the rental obligations, calculated on the same basis, that any sublessee
has for all or part of the same property. A lease obligation shall be counted only once even if the Corporation and one or more of its Subsidiaries may be responsible for the obligation.
“Below Investment Grade Rating Event” means the rating on the Notes is lowered by at least two of the three Rating Agencies and the Notes are rated below
an Investment Grade Rating by at least two of the three Rating Agencies on any day during the period (which period shall be extended so long as the rating of the Notes is under publicly announced consideration for a possible downgrade by any of the
Rating Agencies) commencing 60 days prior to the first public notice of the earlier of the Corporation’s intention to effect a Change of Control and the occurrence of a Change of Control and ending 60 days following consummation of such Change of
Control.
“Business Day” means each day which is not a Legal Holiday.
“Capital Expenditures” means, for any period, any expenditures of the Corporation or its Subsidiaries during such period that, in conformity with U.S.
generally accepted accounting principles consistently applied, are required to be included in fixed asset accounts as reflected in the consolidated balance sheet of the Corporation and its Subsidiaries.
“Change of Control” means:
(1) the consummation of any transaction
(including, without limitation, any merger or consolidation) the result of which is that any Person or group (as used in Section 13(d)(3) of the Exchange Act) becomes the beneficial owner, directly or indirectly, of more than 50% of the Corporation’s
Voting Stock, measured by voting power rather than number of shares;
(2) any sale, lease, exchange or other
transfer (in one transaction or a series of related transactions) of all or substantially all of the assets of the Corporation and its Subsidiaries, taken as a whole, to any Person or group of related Persons for the purpose of Section 13(d)(3) of
the Exchange Act, together with any affiliates thereof, other than any such sale, lease, exchange or other transfer to one or more of the Corporation’s Subsidiaries (whether or not otherwise in compliance with the provisions of this Indenture); or
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(3) the adoption of a plan relating to the
liquidation, dissolution or winding up of the Corporation.
Notwithstanding the foregoing, a transaction effected to create a holding company for the Corporation shall not be deemed to involve a Change of Control if
(a) pursuant to such transaction the Corporation becomes a wholly owned subsidiary of such holding company and (b) the holders of the outstanding Voting Stock of such holding company immediately following such transaction are the same as the holders of
the Corporation’s outstanding Voting Stock immediately prior to such transaction.
“Change of Control Repurchase Event” means the occurrence of both a Change of Control and a Below Investment Grade Rating Event.
“Comparable Treasury Issue” means the United States Treasury security selected by the Quotation Agent as having a maturity comparable to the Assumed
Remaining Life that would be utilized, at the time of selection and in accordance with customary financial practice, in pricing new issues of corporate debt securities of comparable maturity to the Assumed Remaining Life.
“Comparable Treasury Price” means, with respect to any Optional Redemption Date, the average of two Reference Treasury Dealer Quotations for such Optional
Redemption Date.
“Consolidated Net Tangible Assets” means, as of any date of determination, total assets less:
(1) total current liabilities (excluding
any Debt which, at the option of the borrower, is renewable or extendible to a term exceeding 12 months and which is included in current liabilities and further excluding any deferred income taxes which are included in current liabilities), and
(2) goodwill, patents and trademarks,
all as stated on the Corporation’s most recent publicly available consolidated balance sheet preceding such date of determination.
“Fitch” means Fitch Inc. and its successors.
“Initial Notes” means $500.0 million aggregate principal amount of the Corporation’s 2.500% Senior Notes due 2030 issued under this Supplemental Indenture
and the Indenture on the date hereof substantially in the form set forth in Exhibit A hereto.
“Interest Payment Date” means a date on which interest is payable in respect of the Notes.
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“Investment Grade Rating” means a rating equal to or higher than Baa3 (or the equivalent under any successor rating categories) by Moody’s, BBB‑ (or the
equivalent under any successor rating categories) by S&P and BBB‑ (or the equivalent under any successor rating categories) by Fitch and the equivalent investment grade credit rating from any replacement rating agency or rating agencies selected by
the Corporation.
“Long‑Term Debt” means Debt that by its terms matures on a date more than 12 months after the date it was created or Debt that the obligor may extend or
renew without the obligee’s consent to a date more than 12 months after the Debt was created.
“Moody’s” means Moody’s Investors Service Inc. and its successors.
“Notes” means the Initial Notes issued and any additional 2.500% Senior Notes due 2030 issued, treated as a single Series.
“Par Call Date” means December 15, 2029, the date that is three months prior to the date that the Notes are scheduled to mature.
“Primary Treasury Dealer” means a primary U.S. Government securities dealer in The City of New York.
“Principal Property” means any mining and quarrying or manufacturing facility located in the United States and owned by the Corporation or by one or more
Restricted Subsidiaries on the Issue Date of the Notes and which has, as of the date the Lien is incurred, a net book value (after deduction of depreciation and other similar charges) greater than 3% of Consolidated Net Tangible Assets, except:
(1) any such facility or property which is
financed by obligations of any State, political subdivision of any State or the District of Columbia under terms which permit the interest payable to the holders of the obligations to be excluded from gross income as a result of the plant, facility
or property satisfying the conditions of Section 103(b)(4)(C), (D), (E), (F) or (H) or Section 103(b)(6) of the Internal Revenue Code of 1954 or Section 142(a) or Section 144(a) of the Internal Revenue Code of 1986, or of any successors to such
provisions; or
(2) any such facility or property which, in
the opinion of the Board of Directors of the Corporation, is not of material importance to the total business conducted by the Corporation and its Subsidiaries taken as a whole.
Notwithstanding the foregoing, the chief executive officer or chief financial officer of the Corporation may at any time declare any
mining and quarrying or manufacturing facility or other property to be a Principal Property by delivering a certificate to that effect to the Trustee.
“Quotation Agent” means, with respect to any Optional Redemption Date, the Reference Treasury Dealer appointed by the Corporation for such purpose.
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“Rating Agency” means (1) each of Moody’s, S&P and Fitch and (2) if any of Moody’s, S&P or Fitch ceases to rate the Notes or fails to make a rating
of the Notes publicly available for reasons outside the control of the Corporation, a “nationally recognized statistical rating organization” within the meaning of Section 3(a)(62) under the Exchange Act selected by the Corporation (as certified by a
resolution of the Board of Directors of the Corporation) to act as a replacement agency for Moody’s, S&P or Fitch, or all of them, as the case may be.
“Reference Treasury Dealer” means (i) each of Deutsche Bank Securities Inc. or J.P. Morgan Securities LLC or their respective affiliates which are primary
U.S. Government securities dealers and their respective successors; provided, however, that if
any of the foregoing shall cease to be a Primary Treasury Dealer, the Corporation shall substitute therefor another Primary Treasury Dealer, and (ii) at the Corporation’s option, any other Primary Treasury Dealers selected by the Corporation.
“Reference Treasury Dealer Quotations” means, with respect to each Reference Treasury Dealer and any Optional Redemption Date, the average, as determined
by the Corporation, of the bid and asked prices for the Comparable Treasury Issue (expressed as a percentage of its principal amount) quoted in writing to the Corporation by such Reference Treasury Dealer at 5:00 p.m., New York City time, on the third
Business Day preceding such Optional Redemption Date.
“Restricted Property” means any Principal Property, any Debt of a Restricted Subsidiary owned by the Corporation or a Restricted Subsidiary on the Issue
Date of the Notes or thereafter if secured by a Principal Property (including any property received upon a conversion or exchange of such debt), or any shares of stock of a Restricted Subsidiary owned by the Corporation or a Restricted Subsidiary
(including any property or shares received upon a conversion, stock split or other distribution with respect to the ownership of such stock).
“Restricted Subsidiary” means a Subsidiary that has substantially all of its assets located in, or carries on substantially all of its business in, the
United States and that owns a Principal Property. Notwithstanding the preceding sentence, a Subsidiary shall not be a Restricted Subsidiary during such period of time as it has shares of capital stock registered under the Exchange Act or it files
reports and other information with the Commission pursuant to Section 13 or 15(d) of the Exchange Act.
“Sale‑Leaseback Transaction” means an arrangement whereby the Corporation or a Restricted Subsidiary sells or transfers a Principal Property and
contemporaneously leases it back for a lease greater than three years.
“Stated Maturity Date”, when used with respect to any Note, means the date specified in such Note as the fixed date on which the principal amount of such
Note is due and payable.
“S&P” means S&P Global Ratings, a business unit of Standard & Poor’s Financial Services LLC, and its successors.
“Treasury Rate” means, with respect to any Optional Redemption Date, the rate per annum equal to the semiannual yield to maturity of the Comparable
Treasury Issue, assuming a price for such comparable treasury issue (expressed as a percentage of its principal amount) equal to the Comparable Treasury Price for such Optional Redemption Date.
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SECTION 1.3 Other Definitions.
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Term
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Defined in Section
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Assumed Remaining Life
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Section 2.8(i)(2)
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Change of Control Offer
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Section 3.3
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Change of Control Payment Date
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Section 3.3(a)
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Corporation
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Preamble
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existing Lien
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Section 3.1(vi)
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Indenture
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Preamble
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Interest Payment Date
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Reverse of Note
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Optional Redemption Date
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Section 2.8(i)(2)
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Securities
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Preamble
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Supplemental Indenture
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Preamble
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Trustee
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Preamble
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ARTICLE II
General Terms and Conditions of the Notes
SECTION 2.1 Designation and Principal Amount. There is hereby authorized and established a Series of Securities under the Indenture, designated as the “2.500% Senior Notes due 2030”, which is not limited in
aggregate principal amount. The Notes shall constitute a separate Series of Securities under the Indenture. The aggregate principal amount of the Notes to be issued shall be as set forth in any Corporation order for the authentication and delivery
of the Notes, pursuant to Section 2.1 of the Indenture.
SECTION 2.2 Maturity. The Stated Maturity Date of principal for the Notes will be March 15, 2030.
SECTION 2.3 Further Issues. The Corporation may from time to time issue additional Notes with the same terms as the Initial Notes (other than issue date and, to the extent applicable, the date from which interest
will begin to accrue and the first payment of interest) and such additional Notes will be consolidated, and constitute a single series of Securities under the Indenture, with the Initial Notes for all purposes without notice to, or the consent of,
the Holders of the Notes; provided, however, that if any additional Notes so issued will not
be fungible with the Initial Notes for federal income tax purposes, such additional Notes will have a separate CUSIP number and ISIN, as applicable, from the Initial Notes.
SECTION 2.4 Form and Payment. Principal of, premium, if any, and interest on the Notes shall be payable in U.S. dollars.
SECTION 2.5 Global Securities. Upon original issuance, the Notes will be represented by one or more Global Securities registered in the name of Cede & Co., the nominee of DTC. The Corporation will deposit
the Global Securities with DTC or its custodian and register the Global Securities in the name of Cede & Co. The provisions of the third and fourth paragraphs of Section 2.7
of the Indenture shall apply to the Notes.
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SECTION 2.6 Interest. The Notes will bear interest (computed on the basis of a 360‑day year consisting of twelve 30‑day months) from, and including, March 16, 2020 at the rate of 2.500% per annum, payable
semiannually in arrears; interest payable on each Interest Payment Date will include interest accrued from March 16, 2020, or from the most recent Interest Payment Date to which interest has been paid or duly provided for; the Interest Payment Dates
on which such interest (except defaulted interest, which shall be paid in accordance with Section 2.13 of the Indenture) shall be payable are March 15 and September 15, commencing on September 15, 2020; and the regular record date for the interest
payable on any Interest Payment Date is the close of business on the 15th calendar day immediately preceding such Interest Payment Date, whether or not such 15th calendar day is a Business Day.
SECTION 2.7 Authorized Denominations. The Notes shall be issuable in denominations of $2,000 and integral multiples of $1,000 in excess thereof.
SECTION 2.8 Optional Redemption of the Notes. The Corporation may redeem the Notes, at its option, at any time in whole or from time to time in part (equal to a principal amount of $2,000 or an integral multiple
of $1,000 in excess thereof) for cash:
(i) prior to the Par Call Date, at a price
equal to the greater of:
(1) 100% of the principal
amount of the Notes to be redeemed; and
(2) as determined by the
Quotation Agent, the sum of the present values of the principal amount of the Notes to be redeemed and the remaining scheduled payments of interest thereon after the date of optional redemption (an “Optional Redemption Date”) through the Par Call Date (assuming, for this purpose, that the Notes are scheduled to mature on the Par Call Date) (the “Assumed
Remaining Life”) (excluding interest, if any, accrued thereon to such Optional Redemption Date), discounted to such Optional Redemption Date on a semiannual basis (assuming a 360‑day year consisting of twelve 30‑day months) at the
Treasury Rate plus 30 basis points (or 0.300%); and
(ii) on or after the Par Call Date and prior
to the Stated Maturity Date of the Notes, at a price equal to 100% of the principal amount of the Notes to be redeemed, plus, in each case, unpaid interest, if any, accrued thereon to, but excluding, such Optional Redemption Date.
Notwithstanding the foregoing, the Corporation shall pay any interest installment due on an Interest Payment Date which occurs on or prior to an Optional
Redemption Date to the Holders of the Notes as of the close of business on the regular record date immediately preceding such Interest Payment Date.
The Corporation may at any time, and from time to time, purchase Notes at any price or prices in the open market or otherwise.
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SECTION 2.9 Appointment of Agents. The Trustee will initially be the Registrar and Paying Agent for the Notes.
ARTICLE III
Additional Covenants
SECTION 3.1 Limitations on Liens. Subject to the following two sentences, the Corporation shall not, and shall not permit any Restricted Subsidiary to, as security for any Debt, incur a Lien on any Restricted
Property, unless the Corporation or such Restricted Subsidiary secures or causes to be secured any outstanding Notes equally and ratably with all Debt secured by such Lien (it being understood that such Lien may equally and ratably secure such Notes
and any other obligations of the Corporation or its Subsidiaries that are not subordinated in right of payment to any outstanding Notes). The foregoing restrictions will not apply to, among other things, Liens:
(i) existing on the Issue Date of the Notes or
existing at the time an entity becomes a Restricted Subsidiary;
(ii) existing at the time of the acquisition
of the Restricted Property or incurred to finance all or some of the purchase price or cost of construction; provided that the Lien may not extend to any other Restricted
Property (other than, in the case of construction, unimproved real property) owned by the Corporation or any of its Restricted Subsidiaries at the time the property is acquired or the Lien is incurred; and provided, further, that the Lien may not be incurred more than one year after the later of the acquisition, completion of construction
or commencement of full operation of the property;
(iii) securing Debt of the Corporation owed to
a Restricted Subsidiary or securing Debt of a Restricted Subsidiary owed to the Corporation or another Restricted Subsidiary;
(iv) existing at the time an entity merges
into, consolidates with, or enters into a share exchange with the Corporation or a Restricted Subsidiary or a Person transfers or leases all or substantially all its assets to the Corporation or a Restricted Subsidiary;
(v) in favor of a government or governmental
entity that secures payment pursuant to a contract, subcontract, statute or regulation, secures Debt guaranteed by the government or governmental agency, secures Debt incurred to finance all or some of the purchase price or cost of construction of
goods, products or facilities produced under contract or subcontract for the government or governmental entity, or secures Debt incurred to finance all or some of the purchase price or cost of construction of the property subject to the Lien; or
(vi) extending, renewing or replacing in whole
or in part a Lien (an “existing Lien”) permitted by any of clauses (i) through (v); provided
that such Lien may not extend beyond the property subject to the existing Lien and the Debt secured by the Lien may not exceed the amount of Debt secured at the time by the existing Lien unless the existing Lien or a predecessor Lien equally and
ratably secures the outstanding Notes and the Debt.
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In addition and notwithstanding the foregoing restrictions, the Corporation and any of its Restricted Subsidiaries may, without securing the Notes, incur a
Lien that otherwise would be subject to the foregoing restrictions; provided that after giving effect to such Lien the aggregate amount of all Debt secured by Liens that
otherwise would be prohibited by this Section 3.1 (for the avoidance of doubt, excluding Debt secured by a Lien permitted by any of clauses (i) through (vi) above), plus all
Attributable Debt in respect of Sale‑Leaseback Transactions that otherwise would be prohibited by Section 3.2 at the time such Lien is incurred would not exceed 15% of
Consolidated Net Tangible Assets.
If, upon any consolidation, merger or transfer described in Section 5.1 of the Indenture, a Restricted Property would become subject to an attaching Lien
that secures Debt, then, before the consolidation, merger or transfer occurs, the Corporation by supplemental indenture shall secure the Securities by a direct lien on such Restricted Property. The direct Lien shall have priority over all Liens on
such Restricted Property except those already encumbering such Restricted Property. The direct Lien may equally and ratably secure the Securities and any other obligation of the Corporation or a Subsidiary. Notwithstanding the foregoing, the
Corporation need not comply with the above provisions of this paragraph if (i) upon the consolidation, merger or transfer, the attaching Lien will secure the Securities equally and ratably with or prior to Debt secured by the attaching Lien or
(ii) pursuant to the other provisions of this Section 3.1, the Corporation or a Restricted Subsidiary would not be prohibited from creating a Lien on the Restricted Property
to secure Debt at least equal in amount to that secured by the attaching Lien.
This Section 3.1 is one of the covenants eligible for the provisions of
Section 8.3 of the Indenture.
SECTION 3.2 Limitations on Sale and Lease‑Back Transactions. Subject to the following sentence, the Corporation shall not, and shall not permit any Restricted Subsidiary to, enter into a Sale‑Leaseback
Transaction, unless:
(i) the lease is between the Corporation and a
Restricted Subsidiary or between Restricted Subsidiaries;
(ii) the Corporation or such Restricted
Subsidiary would be entitled, pursuant to Section 3.1, to create a Lien on the property to be leased securing Debt in an amount at least equal in amount to the Attributable
Debt in respect of the Sale‑Leaseback Transaction without equally and ratably securing the outstanding Notes under Section 3.1;
(iii) the Corporation owns or acquires other
property which will be made a Principal Property and is determined by the Board of Directors of the Corporation to have a fair value equal to or greater than the Attributable Debt incurred;
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(iv) within 270 days of the effective date of
the lease, the Corporation makes Capital Expenditures with respect to a Principal Property in an amount at least equal to the amount of the Attributable Debt incurred; or
(v) the Corporation or a Restricted Subsidiary
makes an optional prepayment in cash of its Debt or finance lease obligations at least equal in amount to the Attributable Debt for the lease, the prepayment is made within 270 days of the effective date of the lease, the Debt prepaid is not owned by
the Corporation or a Restricted Subsidiary, the Debt prepaid is not subordinated in right of payment to any of the Notes, and the Debt prepaid was Long‑Term Debt at the time it was created.
In addition and notwithstanding the foregoing restrictions, the Corporation and any of its Restricted Subsidiaries may, without securing the Notes, enter
into a Sale‑Leaseback Transaction that otherwise would be subject to the foregoing restrictions; provided that after giving effect to such Sale‑Leaseback Transaction the
aggregate amount of all Debt secured by Liens that otherwise would be prohibited by Section 3.1 (for the avoidance of doubt, excluding Debt secured by a Lien permitted by any
of clauses (i) through (vi) thereof), plus all Attributable Debt in respect of Sale‑Leaseback Transactions that otherwise would be prohibited by this Section 3.2 would not
exceed 15% of Consolidated Net Tangible Assets.
This Section 3.2 is one of the covenants eligible for the provisions of
Section 8.3 of the Indenture.
SECTION 3.3 Change of Control Repurchase Event. If a Change of Control Repurchase Event occurs (unless the Corporation has exercised its right to redeem the Notes in full in accordance with Section 2.8 hereof), the Corporation shall make an irrevocable offer (subject to consummation of the Change of Control Repurchase Event) (a “Change of Control Offer”) to each Holder of Notes (except any such Notes in respect of which the Corporation has exercised its right of redemption in full in accordance with Section 2.8 hereof) to repurchase all or, at the election of such Holder, any part (equal to a principal amount of $2,000 or an integral multiple of $1,000 in excess thereof) of such Holder’s
Notes for cash at a price equal to 101% of the principal amount of such Notes to be repurchased plus unpaid interest, if any, accrued thereon to, but excluding, the repurchase date. Notwithstanding the foregoing, the Corporation shall pay any
interest installment due on an Interest Payment Date which occurs on or prior to the repurchase date to the Holders of the Notes as of the close of business on the record date immediately preceding such Interest Payment Date.
(a) The Corporation shall send a notice to
each Holder of the Notes by first class mail, with a copy to the Trustee, within 30 days following the date upon which any Change of Control Repurchase Event has occurred, or at its option, prior to any Change of Control but after the public
announcement of the pending Change of Control. The notice shall govern the terms of the Change of Control Offer and shall describe the transaction that constitutes or may constitute the Change of Control Repurchase Event and shall irrevocably offer
(subject to consummation of the Change of Control Repurchase Event) to repurchase all of such Notes on the repurchase date specified in the notice. Subject to the following sentence, the repurchase date shall be at least 30 days but no more than
60 days from the date such notice is sent (a “Change of Control Payment Date”). If the notice is sent prior to the date of consummation of the Change of Control, the notice shall state that the Change of Control Offer is conditioned on the Change of
Control Repurchase Event occurring on or prior to the repurchase date specified in the notice. Holders electing to have their Notes purchased pursuant to a Change of Control Offer shall be required to surrender their Notes, with the form entitled
“Option of Holder to Elect Repurchase” on the reverse completed, to the Paying Agent at the address specified in the notice, or transfer their Notes to the Paying Agent by book‑entry transfer pursuant to the applicable procedures of the Paying Agent,
prior to the close of business on the third Business Day prior to the Change of Control Payment Date. The Paying Agent shall promptly send to each Holder of Notes properly tendered the repurchase price for such Notes, and the Trustee, upon the
Corporation’s execution and delivery of the related Notes, shall promptly authenticate and send (or cause to be transferred by book‑entry) to each Holder a new Note equal in principal amount to any unrepurchased portion of any Notes properly
tendered.
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(b) On the Change of Control Payment Date, the
Corporation shall, to the extent lawful: (i) accept for payment all properly tendered Notes or portions of Notes that have not been validly withdrawn; (ii) on or before 10:00 a.m. (New York City time) on such date, deposit with the Trustee or with
the Paying Agent (other than the Corporation or an Affiliate of the Corporation) money sufficient to pay the required payment for all properly tendered Notes or portions of Notes that have not been validly withdrawn; and (iii) deliver or cause to be
delivered to the Trustee the repurchased Notes, accompanied by an Officers’ Certificate stating the aggregate principal amount of repurchased Notes. The Trustee or the Paying Agent shall promptly return to the Corporation any money deposited with the
Trustee or the Paying Agent by the Corporation in excess of the amounts necessary to pay the repurchase price of all Notes to be repurchased.
(c) The Corporation shall comply with the
requirements of Rule 14e‑1 under the Exchange Act, and any other securities laws and regulations thereunder to the extent those laws and regulations are applicable in connection with the repurchase of the Notes as a result of a Change of Control
Repurchase Event. To the extent that the provisions of any securities laws or regulations conflict with the provisions of this Indenture or the Notes, the Corporation shall comply with the applicable securities laws and regulations and shall not be
deemed to have breached its obligations under this Section 3.3 or the Notes by virtue of any such conflict.
(d) The Corporation shall not be required to
make an offer to repurchase the Notes upon a Change of Control Repurchase Event if a third party makes such an offer in the manner, at the times and otherwise in compliance with the requirements of this Section 3.3 and such third party purchases all Notes properly tendered and not withdrawn by the Holders thereof under its offer.
(e) If Notes tendered in a Change of Control
Offer are paid or if the Corporation has deposited with the Trustee or the Paying Agent money sufficient to pay the repurchase price of all Notes to be repurchased, on and after the repurchase date, interest shall cease to accrue on the Notes or the
portions of Notes tendered and not withdrawn in a Change of Control Offer (regardless of whether certificates for such Notes are actually surrendered). If any Security tendered in a Change of Control Offer shall not be so paid upon surrender for
repurchase because of the failure of the Corporation to comply with paragraph (c) of this Section 3.3, interest shall be paid on the unpaid principal from the repurchase
date until such principal is paid, and, to the extent lawful, on any interest not paid on such unpaid principal, in each case, at the rate provided in such Security.
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This Section 3.3 is one of the covenants eligible for the provisions of
Section 8.3 of the Indenture.
SECTION 3.4 Maintenance of Office or Agency. In the event that certificated Notes are outstanding, then, for so long as such certificated Notes are outstanding, the Corporation shall maintain in the United
States, an office or agency where certificated Notes may be presented or surrendered for payment and where certificated Notes may be surrendered for registration of transfer or exchange. The Corporation shall give prompt written notice to the
Trustee of the location, and any change in the location, of each such office or agency. If at any time the Corporation shall fail to maintain any such required office or agency or shall fail to furnish the Trustee with the address thereof, such
presentations may be made or served at the corporate trust office of the Trustee, and the Corporation hereby appoints the Trustee as its agent to receive all such presentations.
ARTICLE IV
Form of Notes
SECTION 4.1 Form of Notes. The Notes and the Trustee’s Certificate of Authentication to be endorsed thereon are to be substantially in the form set forth in Exhibit A hereto.
ARTICLE V
Original Issue of Notes
SECTION 5.1 Original Issue of Notes. The Notes may, upon execution of this Supplemental Indenture, be executed by the Corporation and delivered to the Trustee for authentication, and the Trustee shall, upon
Corporation order, authenticate and deliver Notes as in such Corporation order provided.
ARTICLE VI
Miscellaneous
SECTION 6.1 Ratification of Indenture. The Indenture, as supplemented by this Supplemental Indenture, is in all respects ratified and confirmed, and this Supplemental Indenture shall be deemed part of the
Indenture in the manner and to the extent herein and therein provided; provided, however,
that, notwithstanding anything to the contrary, the provisions of this Supplemental Indenture shall apply solely with respect to the Notes (and not to any other Series of Securities). To the extent that the provisions of this Supplemental Indenture
conflict with any provision of the Indenture, the provisions of this Supplemental Indenture shall govern and be controlling, with respect to the Notes (and only with respect to the Notes).
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SECTION 6.2 Effect of Supplemental Indenture. The definition of each term set forth in Article I of the Indenture is with respect to
the Notes (and only with respect to the Notes) deleted and replaced in its entirety by the definition ascribed to such term in Article I of this Supplemental Indenture to
the extent any such term is defined in both the Indenture and this Supplemental Indenture.
Exhibit A of this Supplemental Indenture, with respect to the Notes (and only with respect to the Notes), shall supersede and replace Exhibit A to the
Indenture.
SECTION 6.3 Trustee Not Responsible for Recitals. The recitals herein contained are made by the Corporation and not by the Trustee, and the Trustee assumes no responsibility for the correctness thereof. The
Trustee makes no representation as to the validity or sufficiency of this Supplemental Indenture.
SECTION 6.4 Governing Law. THE LAW OF THE STATE OF NEW YORK SHALL GOVERN AND BE USED TO CONSTRUE THIS SUPPLEMENTAL INDENTURE AND THE NOTES. EACH OF THE PARTIES HERETO HEREBY IRREVOCABLY WAIVES, TO THE FULLEST
EXTENT PERMITTED BY APPLICABLE LAW, ANY AND ALL RIGHT TO TRIAL BY JURY IN ANY ACTION OR PROCEEDING ARISING OUT OF OR RELATING TO THIS SUPPLEMENTAL INDENTURE, THE NOTES OR THE TRANSACTIONS CONTEMPLATED HEREBY.
SECTION 6.5 Separability. In case any one or more of the provisions contained in the Indenture, this Supplemental Indenture or the Notes shall for any reason be held to be invalid, illegal or unenforceable in any
respect, such invalidity, illegality or unenforceability shall not affect any other provisions of the Indenture, this Supplemental Indenture or of the Notes, but the Indenture, this Supplemental Indenture and the Notes shall be construed as if such
invalid or illegal or unenforceable provision had never been contained herein or therein.
SECTION 6.6 Counterparts. This Supplemental Indenture may be executed in any number of counterparts each of which shall be an original; but such counterparts shall together constitute but one and the same
instrument.
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IN WITNESS WHEREOF, the parties hereto have caused this Supplemental Indenture to be duly executed, all as of the day and year first above written.
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MARTIN MARIETTA MATERIALS, INC.
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By:
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/s/ James A. J. Nickolas
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Name: James A. J. Nickolas
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Title: Senior Vice President and
Chief Financial Officer
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REGIONS BANK, AS TRUSTEE
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By:
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/s/ Sean Julien
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Name: Sean Julien
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Title: Vice President
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EXHIBIT A
Form of Note
[UNLESS AND UNTIL IT IS EXCHANGED IN WHOLE OR IN PART FOR SECURITIES IN DEFINITIVE FORM, THIS SECURITY MAY NOT BE TRANSFERRED EXCEPT AS A WHOLE BY THE DEPOSITARY TO A NOMINEE
OF THE DEPOSITARY OR BY A NOMINEE OF THE DEPOSITARY TO THE DEPOSITARY OR ANOTHER NOMINEE OF THE DEPOSITARY OR BY THE DEPOSITARY OR ANY NOMINEE TO A SUCCESSOR DEPOSITARY OR A NOMINEE OF ANY SUCCESSOR DEPOSITARY.]1
_____________________
1 Remove Global Securities Legend if inapplicable.
A-1
MARTIN MARIETTA MATERIALS, INC.
2.500% SENIOR NOTES DUE 2030
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No. ____
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CUSIP: 573284 AV8
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ISIN: US573284AV89
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Martin Marietta Materials, Inc., a North Carolina corporation, promises to pay to Cede & Co., or registered assigns, the principal amount of
__________________ Dollars ($________) on March 15, 2030, or such other amount as provided on the “Schedule of Principal Amount” attached hereto.
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Interest Payment Dates: March 15 and September 15, beginning on [ ]
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Record Dates: 15th calendar day immediately preceding the applicable Interest Payment Date
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Reference is made to further provisions of this Note set forth on the reverse hereof, which further provisions shall for all purposes have the same effect
as set forth at this place.
Unless the certificate of authentication hereon has been executed by the Trustee referred to on the reverse hereof by manual signature, the Holder of this
Note shall not be entitled to any benefits under the Indenture referred to on the reverse hereof or be valid or obligatory for any purpose.
A-2
In WITNESS WHEREOF, the Corporation has caused this instrument to be duly executed.
Dated [ ]
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MARTIN MARIETTA MATERIALS, INC.
as Issuer
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By:
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Authorized Signatory
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TRUSTEE’S CERTIFICATE OF AUTHENTICATION
This is one of the Notes
referred to in the within‑mentioned Supplemental Indenture:
Dated [ ]
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REGIONS BANK,
as Trustee
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By:
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Authorized Signatory
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A-3
(Reverse of Note)
2.500% Senior Notes due 2030
MARTIN MARIETTA MATERIALS, INC.
Capitalized terms used herein shall have the meanings assigned to them in the Indenture (as supplemented by the Supplemental Indenture) referred to below
unless otherwise indicated.
(1) Interest. Martin Marietta Materials, Inc., a North Carolina corporation, or its successor (the “Corporation”), promises to pay interest on the
outstanding principal amount of this Note at the fixed rate per annum shown above, and at the same rate on any overdue principal or overdue installment of interest to the extent lawful. The Corporation shall pay interest in United States dollars
semiannually in arrears on March 15 and September 15 of each year, commencing on [ ] (each, an “Interest Payment Date”), except as provided in Section 10.7 of the
Indenture with respect to an Interest Payment Date that is not a Business Day. Interest on this Note shall accrue from, and including, the most recent date to which interest has been paid or, if no interest has been paid, from and including [
]. Interest shall be computed on the basis of a 360‑day year comprised of twelve 30‑day months.
(2) Method of Payment. The Corporation shall pay interest on this Note on the applicable Interest Payment Date to the Persons who are Holders of this Note at the close of business on the 15th calendar day immediately preceding
such Interest Payment Date, whether or not such 15th calendar day is a Business Day, even if this Note is cancelled after such regular record date and on or before such Interest Payment Date, except as provided in Section 2.13 of the Indenture with
respect to defaulted interest. This Note shall be payable as to principal, premium and interest at the office or agency of the Corporation maintained for such purpose within the Borough of Manhattan, The City and State of New York; provided that (a) payment by wire transfer of immediately available funds shall be required with respect to principal of, premium, if any, and interest on, all Global Securities
and (b) at the option of the Corporation, payment of interest on an Interest Payment Date may be made by check mailed to a Holder’s address. Such payment shall be in such coin or currency of the United States of America as at the time of payment is
legal tender for payment of public and private debts.
Any payments of principal of, premium, if any, and interest on this Note prior to the Stated Maturity Date shall be binding upon all future Holders of this
Note, whether or not noted hereon. The amount due and payable at the maturity or earlier redemption or repurchase of this Note shall be payable only upon presentation and surrender of this Note at an office of the Trustee or the Trustee’s agent
appointed for such purposes.
(3) Paying Agent and Registrar. Initially, the Trustee under the Indenture shall act as Paying Agent and Registrar. The Corporation may change any Paying Agent or Registrar for any reason, without notice to any Holder. The
Corporation or any of its Subsidiaries may act in any such capacity.
(4) Indenture. The Corporation issued this Note under an Indenture dated as of May 22, 2017 (the “Indenture”) as supplemented by the Third Supplemental
Indenture dated as of March 16, 2020 (the “Supplemental Indenture”), between the Corporation and the Trustee. The terms of this Note include those stated in the Indenture
(as supplemented by the Supplemental Indenture) and those made a part of the Indenture by reference to the Trust Indenture Act of 1939, as amended (15 U.S. Code §§ 77aaa‑77bbbb) (the “TIA”).
To the extent the provisions of this Note are inconsistent with the provisions of the Indenture (as supplemented by the Supplemental Indenture), the Indenture (as supplemented by the Supplemental Indenture) shall govern. This Note is subject to all
such terms, and Holders are referred to the Indenture, the Supplemental Indenture and the TIA for a statement of such terms. The Notes issued on the Issue Date of the Notes are senior unsecured obligations of the Corporation initially limited to
$________ aggregate principal amount. The Indenture (as supplemented by the Supplemental Indenture) permits the issuance of additional Notes subject to compliance with certain conditions.
A-4
(5) Denominations, Transfer, Exchange. The Notes are in registered form without coupons in initial denominations of $2,000 and integral multiples of $1,000 in excess thereof. The transfer of the Notes may be registered and the
Notes may be exchanged as provided in the Indenture. The Registrar and the Trustee may require a Holder, among other things, to furnish appropriate endorsements and transfer documents and the Corporation may require a Holder to pay any taxes and
expenses required by law or permitted by the Indenture. The Corporation need not exchange or register the transfer of any Note or portion of a Note selected for optional redemption, except for the unredeemed portion of any Note being redeemed in
part pursuant to an optional redemption. Also, it need not exchange or register the transfer of any Notes for a period of 15 days before a selection of Notes to be redeemed pursuant to an optional redemption or during the period between a regular
record date and the corresponding Interest Payment Date.
(6) Change of Control Repurchase Event. This Note shall be subject to repurchase at the option of Holders under the circumstances specified in Section 3.3
of the Supplemental Indenture.
(7) Optional Redemption. This Note shall be subject to optional redemption in accordance with Section 2.8 of the Supplemental Indenture.
(8) Persons Deemed Owners. The Holder of this Note may be treated as its owner for all purposes.
(9) Trustee Dealings with the Corporation. The Trustee, in its individual or any other capacity, may make loans to, accept deposits from, and perform services for the Corporation or its Affiliates, and may otherwise deal with
the Corporation or its Affiliates, as if it were not the Trustee.
(10) No Recourse Against Others. No director, officer, employee or stockholder, past, present or future, of the Corporation or any of its Subsidiaries, as such or in such capacity, shall have any personal liability for any
obligations of the Corporation under the Notes, the Supplemental Indenture or the Indenture by reason of his, her or its status as such director, officer, employee or stockholder.
A-5
No recourse may, to the full extent permitted by applicable law, be taken, directly or indirectly, with respect to the obligations of the Corporation on
the Notes or under the Indenture, Supplemental Indenture or any related documents, any certificate or other writing delivered in connection therewith, against (i) the Trustee in its individual capacity, or (ii) any partner, owner, beneficiary, officer,
director, employee, agent, successor or assign of the Trustee, each in its individual capacity, or (iii) any holder of equity in the Trustee.
Each Holder of Notes by accepting a Note waives and releases all such liability. The waiver and release are part of the consideration for the issuance of
the Notes.
(11) Authentication. This Note shall not be valid until authenticated by the manual signature of the Trustee or an authenticating agent.
(12) Abbreviations. Customary abbreviations may be used in the name of a Holder or an assignee, such as: TEN COM (= tenants in common), TEN ENT (= tenants by the entireties), JT TEN (= joint tenants with right of survivorship
and not as tenants in common), CUST (= Custodian), and U/G/M/A (= Uniform Gifts to Minors Act).
(13) CUSIP, ISIN Numbers. Pursuant to a recommendation promulgated by the Committee on Uniform Security Identification Procedures, the Corporation has caused CUSIP and ISIN numbers to be printed on this Note and the Trustee may
use CUSIP, ISIN or other similar numbers in notices of redemption as a convenience to the Holders. No representation is made as to the accuracy of such numbers either as printed on this Note or as contained in any notice of redemption and reliance
may be placed only on the other identification numbers placed thereon.
(14) THE LAW OF THE STATE OF NEW YORK SHALL GOVERN AND BE USED
TO CONSTRUE THE INDENTURE AND THE NOTES. EACH OF THE PARTIES HERETO HEREBY IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY AND ALL RIGHT TO TRIAL BY JURY IN ANY ACTION OR PROCEEDING ARISING OUT OF OR RELATING TO THE
INDENTURE, THE NOTES OR THE TRANSACTIONS CONTEMPLATED HEREBY.
The Corporation shall furnish to any Holder upon written request and without charge a copy of the Indenture. Requests may be made to:
Martin Marietta Materials, Inc.
2710 Wycliff Road
Raleigh, North Carolina 27607
Attention: General Counsel
A-6
ASSIGNMENT FORM
To assign this Note, fill in the form below: (I) or (we) assign and transfer this Note to
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(Insert assignee’s soc. sec. or tax I.D. no.)
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(Print or type assignee’s name, address and zip code)
and irrevocably appoint
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to transfer this Note on the books of the Corporation. The agent may substitute another to act for him.
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Date:
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Your Signature:
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(Sign exactly as your name appears on the
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face of this Note)
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Signature guarantee:
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(Signature must be guaranteed by a participant in a recognized signature guarantee medallion program)
A-7
OPTION OF HOLDER TO ELECT REPURCHASE
If you want to elect to have this Note repurchased by the Corporation pursuant to Section 3.3
(“Change of Control Repurchase Event”) of the Supplemental Indenture, check the box below:
[ ] Section 3.3
If you want to elect to have only part of this Note repurchased by the Corporation pursuant to Section 3.3 of the Supplemental Indenture, state the amount (in denominations of $2,000 and integral multiples of $1,000 in excess thereof) you elect to have repurchased:
$_____________________
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Date:
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Your Signature:
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(Sign exactly as your name appears on this Note)
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Tax Identification Number:
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Signature guarantee:
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(Signature must be guaranteed by a participant in a recognized signature guarantee medallion program)
A-8
SCHEDULE A
SCHEDULE OF PRINCIPAL AMOUNT
The initial principal amount at maturity of this Note shall be $________. The following decreases (or increases) in the principal amount at maturity of
this Note have been made:
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Date of Decrease (or Increase)
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Amount of
Decrease in
Principal Amount of This Global Note
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Amount of
Increase in
Principal Amount of This Global Note
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Principal Amount of This Global Note Following Such Decrease (or
Increase)
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Signature of
Authorized Signatory of Trustee or Note
Custodian
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A-9
Exhibit 5.1
March 16, 2020
Martin Marietta Materials, Inc.
2710 Wycliff Road
Raleigh, North Carolina 27607
Attention: Mr. James A.J. Nickolas
Ladies and Gentlemen:
We have served as special North Carolina counsel to Martin Marietta Materials, Inc. (the “Company”) in connection with the Registration Statement on Form S-3 (File
No. 333-217991) (the “Registration Statement”) filed on May 12, 2017 by the Company with the Securities and Exchange Commission (the “Commission”) under the Securities Act of 1933, as amended (the “Act”), relating to the issuance and sale from time
to time by the Company of an indeterminate amount of certain securities, including debt securities. The Company has entered into an Underwriting Agreement (the “Underwriting Agreement”),dated as of March 5, 2020, with Deutsche Bank Securities Inc.
and J.P. Morgan Securities LLC, as Representatives of the several Underwriters named therein, relating to the issuance and sale by the Company of $500,000,000 aggregate principal amount of the Company’s 2.5% Senior Notes due 2030 (the “Securities”).
The Company is issuing the Securities under an Indenture, dated May 22, 2017, between the Company and Regions Bank, an Alabama state chartered bank, as Trustee (the “Base Indenture”), and the Third Supplemental Indenture dated March 16, 2020 between
the Company and Regions Bank, an Alabama state chartered bank, as Trustee (together with the Base Indenture, the “Indenture”).
These opinions are being furnished in accordance with the requirements of Item 601(b)(5) of Regulation S-K promulgated under the Act. The Company will file a
Current Report on Form 8-K with respect to the offer and sale of the Securities (the “Form 8-K”) which is to include this opinion letter as an exhibit. A copy of this opinion letter is also being provided to Cravath, Swaine & Moore LLP, counsel
assisting the Company in the issuance of the Securities, with the understanding that Cravath, Swaine & Moore LLP will rely upon this opinion letter in providing its opinion in accordance with the requirements of Item 601(b)(5) of Regulation S-K
promulgated under the Act.
In connection with these opinions, we have examined original, certified, conformed, electronic or photographic copies, certified or otherwise identified to our
satisfaction, of such records, documents, certificates and instruments as we have deemed necessary and appropriate to enable us to render the opinions expressed below.
In such review, we have assumed the genuineness of all signatures, the capacity of all natural persons, the authenticity of all documents and certificates submitted
to us as originals or duplicate originals, the conformity to original documents and certificates of the documents and certificates submitted to us as certified, electronic, conformed or facsimile copies, the authenticity of the originals of such
latter documents and certificates, the accuracy and completeness of all statements contained in all such documents and certificates, and the integrity and completeness of the minute books and records of the Company to the date hereof. As to all
questions of fact material to the opinions expressed herein that have not been independently established, we have relied, without investigation or analysis of any underlying data, upon certificates and statements of public officials and
representatives of the Company.
Based upon the foregoing, and subject to all of the assumptions, limitations and qualifications set forth herein, we are of the opinion that:
1. The Company is a corporation duly incorporated and validly existing under the
laws of the State of North Carolina.
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ROBINSON, BRADSHAW & HINSON, P.A. : robinsonbradshaw.com
Charlotte Office : 101 N. Tryon St., Ste. 1900, Charlotte, NC 28246 : 704.377.2536
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Martin Marietta Materials, Inc.
March 16, 2020
Page 2
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2. The Indenture has been duly authorized, executed and delivered by the Company.
3. The Securities have been duly authorized, executed and delivered by the Company
and, assuming due authentication as provided in the Indenture and payment therefor pursuant to the Underwriting Agreement, are duly and validly issued and outstanding.
The foregoing opinions are limited to the laws of the State of North Carolina and the federal laws of the United States, and we are expressing no opinion as to the
effect of the laws of any other jurisdiction.
We consent to the filing of this opinion as an exhibit to the Company’s Form 8-K incorporated by reference in the Registration Statement and to the reference to our
firm under the caption “Legal matters” in the prospectus supplements with respect to the Securities filed by the Company with the Commission on March 5, 2020 and March 9, 2020 pursuant to Rule 424(b)(5) under the Act. In giving such consent, we do
not admit that we are in the category of persons whose consent is required under Section 7 of the Act or that this consent is required by Section 7 of the Act.
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Very truly yours,
ROBINSON, BRADSHAW & HINSON, P.A.
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/s/ Robinson, Bradshaw & Hinson, P.A.
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cc: Cravath, Swaine & Moore LLP
Exhibit 5.2
March 16, 2020
Martin Marietta Materials, Inc.
$500,000,000 Aggregate Principal Amount of 2.500% Senior Notes due 2030
Ladies and Gentlemen:
We have acted as counsel for Martin Marietta Materials, Inc., a North Carolina corporation (the “Company”), in connection with the public offering and
sale by the Company of $500,000,000 aggregate principal amount of its 2.500% Senior Notes due 2030 (the “Notes”) to be issued pursuant to an Indenture dated as of May 22, 2017 (the “Base Indenture”), between the Company and Regions Bank (the
“Trustee”), as amended and supplemented by the Third Supplemental Indenture dated as of March 16, 2020 (together with the Base Indenture, the “Indenture”), between the Company and the Trustee.
In that connection, we have examined originals, or copies certified or otherwise identified to our satisfaction, of such documents, corporate records
and other instruments as we have deemed necessary or appropriate for the purposes of this opinion, including the Indenture and the Registration Statement on Form S‑3 (Registration No. 333‑217991) filed with the Securities and Exchange Commission
(the “Commission”) on May 12, 2017, for registration under the Securities Act of 1933, as amended (the “Securities Act”), of various securities of the Company, to be issued from time to time by the Company, as amended by Amendment No. 1 thereto
filed with the Commission on June 5, 2017 (such Registration Statement, as amended by such amendment, being hereinafter referred to as the “Registration Statement”). As to various questions of fact material to this opinion, we have relied upon
representations of officers or directors of the Company and documents furnished to us by the Company without independent verification of their accuracy. We have also assumed (a) the genuineness of all signatures, the legal capacity and competency
of all natural persons, the authenticity of all documents submitted to us as originals and the conformity to authentic original documents of all documents submitted to us as duplicates or copies, (b) that the Indenture has been duly authorized,
executed and delivered by, and represents a legal, valid and binding obligation of, the Trustee, (c) that the Indenture has been duly authorized, executed and delivered by the Company and (d) that the Notes have been duly authorized, executed and
delivered by the Company.
2
Based on the foregoing and subject to the qualifications set forth herein, we are of opinion that when the Notes are authenticated in accordance with
the provisions of the Indenture and delivered and paid for, the Notes will constitute legal, valid and binding obligations of the Company, enforceable against the Company in accordance with their terms and entitled to the benefits of the Indenture
(subject to applicable bankruptcy, insolvency, reorganization, moratorium, fraudulent transfer or other laws affecting creditors’ rights generally from time to time in effect and to general principles of equity, including concepts of materiality,
reasonableness, good faith and fair dealing, regardless of whether such enforceability is considered in a proceeding in equity or at law).
We hereby consent to the filing of this opinion with the Commission as an exhibit to the Registration Statement. We also consent to the reference to
our firm under the caption “Legal Matters” in the Registration Statement. In giving this consent, we do not thereby admit that we are included in the category of persons whose consent is required under Section 7 of the Securities Act or the rules
and regulations of the Commission.
We are admitted to practice in the State of New York, and we express no opinion as to matters governed by any laws other than the laws of the State of
New York and the Federal laws of the United States of America. In particular, we do not purport to pass on any matter governed by the laws of the State of North Carolina.
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Very truly yours,
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/s/ Cravath, Swaine & Moore LLP
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Martin Marietta Materials, Inc.
2710 Wycliff Road
Raleigh, North Carolina 27607
120A
O