MARTIN MARIETTA MATERIALS INC : Entry into a Material Definitive Agreement, Financial Statements and Exhibits (form 8-K)

MLM

Item 1.01. Entry into a Material Definitive Agreement

On September 22, 2021, Martin Marietta Materials, Inc., (the "Corporation") and its wholly­owned subsidiary, Martin Marietta Funding LLC ("MM Funding"), entered into the Thirteenth Amendment (the "Thirteenth Amendment") to its Credit and Security Agreement with Truist Bank, successor by merger to SunTrust Bank, dated as of April 19, 2013 (the Credit and Security Agreement, as amended, the "Credit Agreement"). Pursuant to the Thirteenth Amendment, the scheduled maturity date of the facility was extended to September 21, 2022.

The Credit Agreement is a $400,000,000 trade receivables securitization facility backed by trade receivables originated by the Corporation or by certain of its subsidiaries and acquired by the Corporation, which the Corporation then sells or contributes to MM Funding. Subject to certain conditions set forth in the Credit Agreement, including lenders providing the requisite commitments, the facility may be increased to an amount not to exceed $500,000,000. MM Funding's borrowings bear interest at (i) for loans funded by conduit lenders, the asset-backed commercial paper costs of the conduit lenders plus 0.600% and (ii) for all other loans, one­month LIBOR plus 0.700%, subject to change in the event that LIBOR no longer reflects the lenders' cost of lending.

The Credit Agreement includes an amortization event related to a payment default or acceleration of one of the Corporation's material debt agreements.

The Thirteenth Amendment, including a conformed copy of the Credit Agreement reflecting all changes through the Thirteenth Amendment attached as Exhibt A thereto, is filed as an exhibit hereto and is incorporated herein by reference, and the description of the Thirteenth Amendment and the Credit Agreement contained herein is qualified in its entirety by the terms thereof.

Item 9.01 Financial Statements and Exhibits.

(c) Exhibits

--------------------------------------------------------------------------------

--------------------------------------------------------------------------------

© Edgar Online, source Glimpses