Core Viewpoint - Lamar Advertising Company is seeking to raise approximately $400 million through an institutional private placement of senior notes by its subsidiary, Lamar Media Corp, with the completion dependent on market conditions [1]. Group 1: Financial Details - The proceeds from the offering will be used to repay existing indebtedness under the revolving portion of its senior credit facility and Accounts Receivable Securitization Program [2]. - The notes will be guaranteed on a senior unsecured basis by substantially all of Lamar Media's domestic subsidiaries [1]. Group 2: Regulatory Information - The notes and related guarantees have not been registered under the Securities Act or any state securities laws and will be offered only to qualified institutional buyers and non-U.S. persons in offshore transactions [4]. - This press release does not constitute an offer to sell or a solicitation of an offer to buy any securities [3][6].
Lamar Advertising Company Announces Proposed Private Offering of Senior Notes