Lamar to pay down portion of revolver using proceeds from new notes

By Sarah Lizee

Olympia, Wash., May 11 – Lamar Advertising Co. subsidiary Lamar Media Corp. plans to pay down a portion of its revolving credit facility using proceeds from a $400 million offering of senior notes due 2029, according to a press release.

Any remaining proceeds will be used to fund working capital needs or for general corporate purposes.

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

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