Lamar advertising company prices private offering of senior notes

Baton rouge, la., jan. 23, 2020 (globe newswire) -- lamar advertising company (nasdaq: lamr) announced today that its wholly owned subsidiary, lamar media corp., has agreed to sell $1.0 billion in aggregate principal amount of new senior notes (the “notes”) consisting of (i) $600.0 million in aggregate principal amount of 3 3/4% senior notes due 2028 and (ii) $400.0 million in aggregate principal amount of 4% senior notes due 2030 through an institutional private placement. the proceeds, after the payment of fees and expenses, to lamar media of this offering are expected to be approximately $987.0 million. subject to customary closing conditions, the closing of this offering is expected on or about february 6, 2020.
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