Core Insights - Lamar Advertising Company (LAMR) has completed refinancing transactions totaling $1.1 billion to strengthen its balance sheet for future growth [1] - The refinancing includes the sale of $400 million in 5.375% Senior Notes due 2033 and a new $700 million Term-Loan B facility [2][3] - The refinancing enhances financial flexibility, improves liquidity, and extends the maturity profile of the company's debt [4][8] Financial Details - The $400 million raised from Senior Notes will be used to repay outstanding debt under the revolving portion of its senior credit facility and the Accounts Receivable Securitization Program [2] - The new Term-Loan B facility of $700 million has a seven-year term with an interest rate of 150 basis points over SOFR, replacing an existing $600 million TLB due in 2027 [3] - As of June 30, 2025, the company had $363 million in liquidity, consisting of $55.7 million in cash and cash equivalents and $307.3 million available under its revolving credit facility [5] Market Performance - Over the past six months, shares of Lamar have increased by 6.9%, contrasting with a 0.2% decline in the industry [5]

Core Points - Lamar Advertising Company announced the sale of $400 million in 5.375% Senior Notes due 2033 through an institutional private placement [1] - The expected proceeds to Lamar Media after fees and expenses are approximately $393.5 million, with the closing expected around September 25, 2025 [1][2] Financial Details - The Notes will be guaranteed on a senior unsecured basis by substantially all of Lamar Media's domestic subsidiaries [1] - 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] Regulatory Information - The Notes and related guarantees have not been registered under the Securities Act and will be offered only to qualified institutional buyers and non-U.S. persons [4] - The offering is conducted in reliance on Rule 144A and Regulation S under the Securities Act [4]