01—Abstract
Summary
Summary of the 8-K filed September 16, 2026. Cited figures are marked; the original filing is the authoritative source.
Martin Marietta Materials, Inc. (MLM) reported in this Form 8-K, filed September 16, 2026, that on September 15, 2026 it and its wholly owned subsidiary, Martin Marietta Funding LLC (MM Funding), entered into the Eighteenth Amendment to its Credit and Security Agreement with Truist Bank, successor by merger to SunTrust Bank, as administrative agent.
The amendment extends the scheduled maturity of the trade receivables securitization facility to September 15, 2027. The facility is a $500,000,000a trade receivables securitization backed by receivables originated by the Corporation or certain subsidiaries, which are sold or contributed to MM Funding. Subject to conditions, including lender commitments, the facility may be increased to an amount not to exceed $700,000,000.
Effective with the amendment, MM Funding's borrowings bear interest at Adjusted Term SOFR plus 0.700%b, subject to change if the administrative agent determines Adjusted Term SOFR cannot be determined or SOFR no longer reflects the lenders' cost of lending. The agreement includes an amortization event tied to a payment default or acceleration of one of the Corporation's material debt agreements. The full Eighteenth Amendment, including a conformed copy of the Credit and Security Agreement, is filed as Exhibit 10.01 and incorporated by reference.
02—Key points
Key Highlights
- Eighteenth Amendment to the Credit and Security Agreement entered September 15, 2026, with Truist Bank as administrative agent.
- Scheduled maturity of the trade receivables securitization facility extended to September 15, 2027.
- Facility size is $500,000,000, expandable to an amount not to exceed $700,000,000, subject to conditions including lender commitments.
- Borrowings by Martin Marietta Funding LLC bear interest at Adjusted Term SOFR plus 0.700%, subject to change under specified SOFR-related circumstances.
- The agreement includes an amortization event linked to a payment default or acceleration of one of the Corporation's material debt agreements.
- The filing is made under Item 1.01 (Entry into a Material Definitive Agreement) and Item 9.01 (Exhibits), with Exhibit 10.01 containing the amendment.
03—Questions
Frequently Asked Questions
What did Martin Marietta change in its receivables facility?
The Eighteenth Amendment extended the scheduled maturity of the Credit and Security Agreement to September 15, 2027, and set borrowings to bear interest at Adjusted Term SOFR plus 0.700%.
How large is the trade receivables facility?
The facility is a $500,000,000 trade receivables securitization, which may be increased to an amount not to exceed $700,000,000 subject to certain conditions, including lenders providing the requisite commitments.
Who are the parties to the agreement?
The parties are Martin Marietta Materials, Inc. and its wholly owned subsidiary Martin Marietta Funding LLC, with Truist Bank, successor by merger to SunTrust Bank, acting as administrative agent and lender.
Does the facility contain any default-related triggers?
Yes. The agreement includes an amortization event related to a payment default or acceleration of one of the Corporation's material debt agreements.
Where can investors find the full terms?
The full Eighteenth Amendment, including a conformed copy of the Credit and Security Agreement reflecting all changes, is filed as Exhibit 10.01 to this report and incorporated by reference.
04—Continue