Lamar Advertising Company Announces Redemption of 9 3/4% Senior Notes Due 2014
BATON ROUGE, La., Nov. 4, 2013 (GLOBE NEWSWIRE) -- Lamar Advertising Company
(Nasdaq:LAMR), a leading owner and operator of outdoor advertising and logo
sign displays, today announced that its wholly owned subsidiary, Lamar Media
Corp. ("Lamar Media"), intends to redeem in full all $350,000,000 in aggregate
principal amount of its 9 3/4% Senior Notes due 2014 (CUSIP No. 513075AV3)
(the "Notes").The redemption will be made in accordance with the terms of the
indenture governing the Notes and the terms of the notice of redemption.
Lamar Media expects the Notes to be redeemed on December 4, 2013 (the
"Redemption Date"), at a redemption price equal to 100% of the aggregate
principal amount of outstanding Notes plus a make whole amount and accrued and
unpaid interest to (but not including) the Redemption Date (the "Redemption
Price").The Redemption Price will be due and payable on the Redemption Date
upon surrender of the Notes.
A notice of redemption is being mailed to all registered holders of the Notes
by The Bank of New York Mellon Trust Company N.A., the trustee for the Notes.
Copies of the notice of redemption may be obtained from The Bank of New York
Mellon by calling 1-800-254-2826.
This announcement is for informational purposes only and is not an offer to
purchase or sell or a solicitation of an offer to purchase or sell, with
respect to the Notes or any other securities.
Caution Regarding Forward-looking Statement
This press release contains certain forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995, including
statements regarding Lamar Media's ability to fund redemption of the
Notes.These statements are based on management's current expectations or
beliefs, and are subject to uncertainty and changes in circumstances.Actual
results may vary materially from those expressed or implied by the statements
included herein due to changes in economic, business, competitive,
technological, strategic and/or regulatory factors and other factors affecting
the operation of the businesses of Lamar Advertising Company and Lamar
Media.More detailed information about these factors may be found in the
filings made by Lamar Advertising Company and Lamar Media with the Securities
and Exchange Commission, including in the Risk Factors section of their
combined Annual Report on Form 10-K for the year ended December 31, 2012, as
updated or supplemented by their combined Quarterly Reports on Form
10‑Q.Lamar Advertising Company is under no obligation, and expressly
disclaims any such obligation, to update or alter its forward-looking
statements, whether as a result of new information, future events, or
Lamar Advertising Company is a leading outdoor advertising company currently
operating over 150 outdoor advertising companies in 44 states, Canada and
Puerto Rico, logo businesses in 22 states and the province of Ontario, Canada
and over 60 transit advertising franchises in the United States, Canada and
CONTACT: Keith A. Istre
Chief Financial Officer
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