Lamar Advertising announces proposed private offering of senior notes

Lamar Advertising (LAMR) Company is seeking to raise approximately $400.0 million through an institutional private placement of senior notes by its wholly owned subsidiary, Lamar Media. The Notes will be guaranteed on a senior unsecured basis by substantially all of Lamar Media’s domestic subsidiaries. The completion of the proposed offering depends upon several factors, including market conditions. Lamar Media intends to use the proceeds of this offering, after the payment of fees and expenses, to repay indebtedness outstanding under the revolving portion of its senior credit facility and Accounts Receivable Securitization Program