Lamar Advertising Company Announces Redemption of 6 5/8% Senior Subordinated Notes Due 2015
Lamar Advertising Company (Nasdaq: LAMR), a leading owner and operator of outdoor advertising and logo sign displays, today announced that its wholly owned subsidiary, Lamar Media Corp. ("Lamar Media"), intends to redeem an aggregate of $66,099,000 of 6 5/8% senior subordinated notes consisting of (i) $36,099,000 of its 6 5/8% Senior Subordinated Notes due 2015—Series B (CUSIP No. 513075AP6) (the "Series B Notes") and (ii) $30,000,000 of its 6 5/8% Senior Subordinated Notes due 2015—Series C (CUSIP No. 513075AS0) (the "Series C Notes"). Following the redemptions, there will be $71,188,000 in aggregate principal amount of Series C Notes outstanding and no Series B Notes outstanding. The redemptions will be made in accordance with the terms of the indentures governing the Series B Notes and the Series C Notes, respectively, and the terms of the notices of redemption.
© 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.