Lamar to redeem all $500 million 5 7/8% notes on March 19 at 101.958

By Marisa Wong

Morgantown, W.Va., Feb. 16 – Lamar Advertising Co. said its wholly owned subsidiary, Lamar Media Corp., plans to redeem in full its $500 million of outstanding 5 7/8% senior subordinated notes due 2022 on March 19.

The notes will be redeemed at 101.958 plus accrued interest to but excluding the redemption date.

Lamar intends to fund the redemption using borrowings from a new term loan.

Bank of New York Mellon Trust Co. NA is the trustee for the notes.

Lamar Media is a Baton Rouge, La.-based outdoor advertising company.

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