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Press release from GlobeNewswire (a Nasdaq OMX company)

Lamar Advertising Company Announces Repayment of Senior Credit Facility Indebtedness

Wednesday, December 12, 2012

Lamar Advertising Company Announces Repayment of Senior Credit Facility Indebtedness03:00 EST Wednesday, December 12, 2012BATON 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. Forward-Looking Statements This press release contains forward-looking statements regarding Lamar Media's expected repayment of indebtedness under its senior credit facility. These forward-looking statements involve risks and uncertainties that could cause results to differ materially from performance expressed or implied by these forward-looking statements.CONTACT: Lamar Media Corp. Keith Istre Chief Financial Officer (225) 926-1000 KI@lamar.com