Lamar advertising company announces proposed private offering of an additional $150 million of 4% senior notes due 2030

Baton rouge, la., aug. 17, 2020 (globe newswire) -- lamar advertising company (nasdaq: lamr) announced today that it is seeking to raise approximately $150.0 million through an institutional private placement of additional 4% senior notes due 2030 (the “notes”) by its wholly owned subsidiary, lamar media corp (“lamar media”). the notes are being offered as additional notes to the existing $400.0 million aggregate principal amount of ‎4% senior notes due 2030 that lamar media issued on february 6, 2020 (the "existing notes"). other than with respect to the date of issuance and issue price, the notes will have the same terms as the existing notes. ‎ the notes will be maintained under the same cusip numbers as the existing notes (except that the notes ‎issued pursuant to regulation s will trade separately under a different cusip number until 40 days after the issue date of the ‎notes, but thereafter, the notes issued pursuant to regulation s will be maintained under the same cusip number as the ‎existing notes issued pursuant to regulation s). ‎ 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.
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