October, 2007
Baton Rouge, LA - Lamar Advertising Company (Nasdaq: LAMR) announced that it is seeking to raise approximately $225 million through an institutional private placement of senior subordinated notes due 2015 by its wholly owned subsidiary Lamar Media Corp.
Lamar Media intends to use the net proceeds of this offering to repay outstanding indebtedness under its revolving bank credit facility and for working capital and other corporate purposes.
Subject to market conditions, the closing of the offering is expected on or about October 4, 2007.
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