Lamar Advertising Company (LAMR) announced that its wholly owned subsidiary, Lamar Media Corp., has agreed to sell $400.0 million in aggregate principal amount of 5.375% Senior Notes due 2033 through an institutional private placement. The Notes will be guaranteed on a senior unsecured basis by substantially all of Lamar Medias domestic subsidiaries.
Lamar Media Corp expects the proceeds, after the payment of fees and expenses, to be approximately $393.5 million. The closing of this offering is expected on or about September 25, 2025.
Lamar Media intends to use the proceeds of this offering, after the payment of fees and expenses, to repay indebtedness outstanding under the revolving portion of its senior credit facility and Accounts Receivable Securitization Program.
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