Attached files
file | filename |
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8-K - FORM 8-K - LAMAR MEDIA CORP/DE | d72086e8vk.htm |
EX-99.2 - EX-99.2 - LAMAR MEDIA CORP/DE | d72086exv99w2.htm |
Exhibit 99.1
5551 Corporate Boulevard
Baton Rouge, LA 70808
Lamar Advertising Company Announces
Proposed Private Offering of Senior Subordinated Notes
Proposed Private Offering of Senior Subordinated Notes
Baton Rouge, LA April 8, 2010 Lamar Advertising Company (Nasdaq: LAMR), a leading owner
and operator of outdoor advertising and logo sign displays, announced today that it is seeking to
raise approximately $400 million through an institutional private placement of senior subordinated
notes due 2018 (the Notes) by its wholly-owned subsidiary, Lamar Media Corp.
Lamar Media intends to use the proceeds of this offering, after the payment of fees and expenses,
(i) to repurchase any or all of its outstanding 7 1/4% Senior Subordinated Notes due 2013 (the 7
1/4% Notes) pursuant to the cash tender offer and consent solicitation it announced on April 8,
2010 or other means, (ii) to fund repayment of the 7 1/4% Notes at maturity, or (iii) for general
corporate purposes.
This announcement is neither an offer to sell nor a solicitation of an offer to buy the Notes.
The Notes subject to the private placement have not been registered under the Securities Act of
1933, as amended, or any state securities laws, and are being 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 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 Medias ability to complete
this private placement and its application of net proceeds, including the repurchase of Lamar
Medias 7 1/4% Notes. 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, as well as Lamar Medias ability to reach acceptable
terms with respect to any repurchase of its 7 1/4% Notes.
******
This news release is for informational purposes only and is not an offer to buy, or the
solicitation of an offer to sell, securities, nor a solicitation for acceptance of the tender offer
and consent solicitation for the 7 1/4% Notes. The full details of the tender offer and the
consent solicitation, including complete instructions on how to tender notes and deliver consents,
will be included in an offer to purchase and consent solicitation statement. Holders of the 7 1/4%
Notes are strongly encouraged to read carefully the offer to purchase and consent solicitation
statement and any related materials because they will contain important information. Holders of
the 7 1/4% Notes will receive any such materials free of charge from Lamar Media and may obtain
free copies of these materials from the information agent for the tender offer and the consent
solicitation.
Contact:
Lamar Media Corp.
Keith Istre
Chief Financial Officer
(225) 926-1000
KI@lamar.com
Keith Istre
Chief Financial Officer
(225) 926-1000
KI@lamar.com