Lamar Advertising Company Prices Private Offering of Senior Notes

Rhea-AI Summary

Lamar Advertising Company (Nasdaq: LAMR) announced that its subsidiary, Lamar Media Corp., has priced a $400.0 million private offering of senior notes due 2033 with a 5.375% interest rate. The notes will be guaranteed by most of Lamar Media's domestic subsidiaries on a senior unsecured basis.

The company expects to receive approximately $393.5 million in net proceeds after fees and expenses. The offering is expected to close around September 25, 2025. Lamar Media plans to use the proceeds to repay outstanding debt under its revolving credit facility and Accounts Receivable Securitization Program.

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• Additional long-term debt commitment with 5.375% interest rate
• Approximately $6.5 million in fees and expenses associated with the offering

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BATON ROUGE, La., Sept. 22, 2025 (GLOBE NEWSWIRE) -- Lamar Advertising Company (Nasdaq: LAMR) announced today that its wholly owned subsidiary, Lamar Media Corp. ‎(“Lamar Media”)‎, has agreed to sell $400.0 million in aggregate principal amount of 5.375% Senior Notes due 2033 (the “Notes”) through an institutional private placement. The Notes will be guaranteed on a senior unsecured basis by substantially all of Lamar Media’s domestic subsidiaries. The proceeds, after the payment of fees and expenses, to Lamar Media of this offering are expected to be approximately $393.5 million. Subject to customary closing conditions, 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.

This press release shall not constitute an offer to sell, or the solicitation of an offer to buy, any securities, nor shall there be any sales of the Notes in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. This notice is being issued pursuant to and in accordance with Rule 135(c) under the Securities Act of 1933, as amended (the “Securities Act”).

The Notes and related guarantees subject to the private placement have not been registered under the Securities Act, or any state securities laws, and will be 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 and related guarantees 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.

Forward-Looking Statements

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 sell, or the solicitation of an offer to buy, securities.

Company Contact:

Buster Kantrow
Director of Investor Relations
Lamar Advertising Company
(225) 926-1000
bkantrow@lamar.com

FAQ

What is the size and interest rate of Lamar Advertising's (LAMR) new senior notes offering?

Lamar Media Corp. has priced a $400.0 million senior notes offering with a 5.375% interest rate, due 2033.

How will Lamar Advertising (LAMR) use the proceeds from its senior notes offering?

Lamar Media plans to use the $393.5 million in net proceeds to repay debt under its revolving credit facility and Accounts Receivable Securitization Program.

When will Lamar Advertising's (LAMR) senior notes offering close?

The senior notes offering is expected to close on or about September 25, 2025, subject to customary closing conditions.

Who is guaranteeing Lamar Advertising's (LAMR) new senior notes?

The notes will be guaranteed on a senior unsecured basis by substantially all of Lamar Media's domestic subsidiaries.

What are the eligibility requirements for purchasing LAMR's new senior notes?

The notes will be offered only to qualified institutional buyers under Rule 144A and to non-U.S. persons in offshore transactions under Regulation S.