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Lamar Advertising begins tender for 2.875% series B convertibles
By Jennifer Chiou
New York, June 11 - Lamar Advertising Co. said it launched a cash tender offer for its $133,567,000 of 2.875% series B convertible notes due 2010.
Lamar said it is offering to purchase the notes at $960 for each $1,000 principal amount of the notes plus accrued interest to the payment date.
The tender offer will expire at midnight ET on July 9.
J.P. Morgan Securities Inc. and Wachovia Capital Markets, LLC are the dealer managers. Global Bondholder Services Corp. (866 857-2200 or 212 430-3774 for banks and brokers) is depository and information agent.
Lamar is a Baton rouge, La.-based provider of outdoor advertising services.
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