Lamar Media repays revolver borrowings with proceeds from term loan

By Sarah Lizee

Olympia, Wash., March 21 – Lamar Advertising Co. wholly owned subsidiary Lamar Media Corp. repaid a portion of the outstanding borrowings under its existing revolving credit facility, according to an 8-K filing with the Securities and Exchange Commission.

Borrowings from a new $600 million term loan B facility were used to fund the repayment.

As previously reported, borrowings from the term loan B were also used to redeem the company’s 5 7/8% senior subordinated notes due 2022.

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

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