Business
Lamar Advertising Company Announces Commencement of Exchange Offer for 3 5/8% Senior Notes due 2031
BATON ROUGE, La., Aug. 04, 2021 (GLOBE NEWSWIRE) -- Lamar Advertising Company (Nasdaq: LAMR) announced today that its wholly owned subsidiary, Lamar Media
About this update from Lamar Advertising Company
[{"type":"text","content":"BATON ROUGE, La., Aug. 04, 2021 (GLOBE NEWSWIRE) -- Lamar Advertising Company (Nasdaq: LAMR) announced today that its wholly owned subsidiary, Lamar Media Corp., has commenced an offer to exchange all $550.0 million of its outstanding 3 5/8% Senior Notes due 2031 (the “Original Notes”), which are not registered under the Securities Act of 1933, as amended (the “Securities Act”), for an equal principal amount of newly issued 3 5/8% Senior Notes due 2031 that have been registered under the Securities Act (the “Exchange Notes”). The Exchange Notes are substantially identical to the Original Notes, except that the Exchange Notes have been registered under the Securities Act and will not bear any legend restricting their transfer. The Exchange Notes will be issued only upon cancellation of a like amount of currently outstanding Original Notes. Lamar Media will not receive any proceeds from the exchange offer. Lamar Media is making this exchange offer to satisfy its obligations under a registration rights agreement entered into when it issued the Original Notes. Any Original Notes not tendered for exchange in the exchange offer will remain outstanding and continue to accrue interest, and Lamar Media will have no further obligation to provide for the registration of such notes under the Securities Act, except under certain limited circumstances. Pursuant to the terms of the exchange offer, Lamar Media will accept for exchange any and all Original Notes validly tendered and not withdrawn prior to 5:00 p.m., New York City time, on September 1, 2021 (the “Expiration Date”), unless extended. Tenders of Original Notes may be withdrawn at any time prior to 5:00 p.m., New York City time, on the Expiration Date. The terms of the exchange offer and other information relating to Lamar Media are set forth in a prospectus dated August 4, 2021. Copies of the prospectus and the related letter of transmittal may be obtained from U.S. Bank National Association, which is serving as the exchange agent for the exchange offer. U.S. Bank National Association can be contacted at: U.S. Bank National Association, as Exchange Agent111 Fillmore AvenueSt. Paul, MN 55107-1402Attn: CTS Specialized Finance Corporate Actions1-800-934-6802 This press release does not constitute an offer to purchase any securities or the solicitation of an offer to sell any securi...