Lamar Media calls its 7 7/8% senior subordinated notes due 2018 in full

By Tali Rackner

Norfolk, Va., March 21 - Lamar Advertising Co. subsidiary Lamar Media Corp. plans to redeem all $400 million of its 7 7/8% senior subordinated notes due 2018, according to a press release.

The notes will be redeemed at 103.938 plus accrued interest on April 21.

The redemption will be funded through a combination of borrowings from a new incremental term loan facility, borrowings under the revolving portion of its senior credit facility and cash on hand.

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

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