Lamar Advertising Company prices private offering of Senior Notes
January 26, 2016
COLUMBIA, SC – Lamar Advertising Company announced that its wholly owned subsidiary, Lamar Media Corp., has agreed to sell $400 million in aggregate principal amount of 5 3/4% Senior Notes due 2026 (the “Notes”) through an institutional private placement. The proceeds, after the payment of fees and expenses, to Lamar Media of this offering are expected to be approximately $394.5 million. Subject to customary closing conditions, the closing of this offering is expected on or about January 28, 2016.
This announcement is neither an offer to sell nor a solicitation of an offer to buy the Notes.
The Notes subject to the private placement have not been registered under the Securities Act of 1933, as amended, or any state securities laws, and are being offered only to qualified institutional buyers in reliance on Rule 144A under the Securities Act and to non-U.S. persons in offshore transactions in reliance on Regulation S. Unless so registered, the Notes may not be offered or sold in the United States or to U.S. persons except pursuant to an exemption from the registration requirements of the Securities Act and applicable state securities laws.
