Lamar Media to repay term A-1 loan, some revolver debt via new notes

By Tali Rackner

Norfolk, Va., Jan. 25 – Lamar Media Corp. plans to use the proceeds from a $400 million note private placement to repay the $300 million term A-1 loan that it borrowed on Jan. 7 to fund the acquisition of certain assets of Clear Channel Outdoor Holdings, Inc., according to a news release from parent company Lamar Advertising Co.

Proceeds will also be used to repay a portion of the borrowings outstanding under the company’s revolving credit facility.

Lamar Advertising is a Baton Rouge, La.-based outdoor advertising company.

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