Lamar Advertising to pay down term loans, some of revolver via notes

By Sarah Lizee

Olympia, Wash., Jan. 21 – Lamar Advertising Co. plans to repay its term A loans and some revolver borrowings using proceeds from new notes, according to a press release.

Lamar Advertising, through its wholly owned subsidiary Lamar Media Corp., plans to sell $1 billion in notes.

Proceeds from the new notes will also be used to redeem all of the company’s outstanding $510 million 5 3/8% senior notes due 2024.

Any remaining proceeds will be used for general corporate purposes.

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

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