Lamar Advertising Company Announces Proposed Private Offering of Senior Notes
BATON ROUGE, La., Jan. 7, 2014 (GLOBE NEWSWIRE) -- Lamar Advertising Company
(Nasdaq:LAMR) announced today that it is seeking to raise approximately $510
million through an institutional private placement of senior notes due 2024
(the "Notes") by its wholly owned subsidiary, Lamar Media Corp.
Lamar Media intends to use the proceeds of this offering, after the payment of
fees and expenses, to repay all amounts outstanding under its senior credit
facility and for general corporate purposes.
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.
This press release contains forward-looking statements regarding Lamar Media's
ability to complete this private placement and its application of net
proceeds. These forward-looking statements involve a number of risks and
uncertainties.Among the important factors that could cause actual results to
differ materially from those results indicated in the forward-looking
statements include uncertainties relating to market conditions for corporate
debt securities generally and for the securities of advertising companies and
for Lamar Media in particular.
This news release is for informational purposes only and is not an offer to
buy, or the solicitation of an offer to sell, securities.
CONTACT: Lamar Media Corp.
Chief Financial Officer
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