Showing 1-10 of about 32 articles.
Lamar Advertising Company
Lamar Advertising Company Announces Repayment of Senior Credit Facility Indebtedness
BATON ROUGE, La., Dec. 12, 2012 (GLOBE NEWSWIRE) -- Lamar Advertising Company (Nasdaq:LAMR), a leading owner and operator of outdoor advertising and logo sign displays, announced today that its wholly owned subsidiary, Lamar Media Corp. ("Lamar Media") has issued an irrevocable notice to repay $295 million of the Term B loan under its senior credit facility. The Term B loan bears interest at a rate of 4.0% and matures on December 31, 2016. The repayment is expected to be effective on December 14, 2012. Following the repayment, approximately $22 million will remain outstanding under the Term B loan. Lamar Media is funding the repayment with the approximately $240 million of proceeds remaining from its previously announced institutional private placement of $535 million aggregate principal amount of 5% Senior Subordinated Notes due 2023, which closed on October 30, 2012, and cash from operations.
Lamar Advertising Company
Lamar Advertising Company Prices Private Offering of Senior Subordinated Notes
BATON ROUGE, La., Oct. 25, 2012 (GLOBE NEWSWIRE) -- Lamar Advertising Company (Nasdaq:LAMR) announced today that its wholly owned subsidiary, Lamar Media Corp., has agreed to sell $535 million in aggregate principal amount of 5.00% Senior Subordinated Notes due 2023 (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 $527.1 million. Subject to customary closing conditions, the closing of this offering is expected on or about October 30, 2012.
Showing 1-10 of about 32 articles.