Lamar Advertising Offering $1B in Debt
Lamar Advertising is launching an offering of $1 Billion in senior notes. The notes will be available via private placement through its wholly owned subsidiary Lamar Media.
The proceeds of the raise would go to refinancing: which is mentioned by the company; to redeem all outstanding $510M in 5 3/8% senior notes due 2024; repayment of term A loans; to repay certain amounts under the revolving part of its senior credit facility; and finally to fund working capital or general purposes.
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