Yesterday, Insider had an article on Lamar Advertising’s announcement of a proposed private placement  offering of approximately $1.0 billion of one or more series of senior notes.

An additionally filed SEC disclosure provides more detail related to Lamar’s presentation to potential lenders, which expands on their notice from yesterday.  The list includes:

(1) a new $750.0 million 5-year revolving credit facility (to replace its existing $550.0 million revolving credit facility),

(2) a new $600.0 million 7-year Term Loan B and

(3) the Proposed Offering mentioned yesterday to refinance Lamar Media’s existing Term Loan A and Term Loan B, redeem in full all $510.0 million in aggregate principal amount of its outstanding 5 3/8% Senior Notes due 2024 (the “Redemption”), partially repay borrowings under the existing revolving credit facility, pay fees and expenses in connection therewith and the remainder, if any, for general corporate purposes.

Insiders Take: No pricing on the debt yet, but we expect to see details soon as Lamar gets feedback from the market.  This is a beneficial restructuring of the Lamar Media balance sheet.  Lamar gets lower interest rates, longer debt maturities and credit availability for more acquisitions.

Most of the larger OOH firms have had recent debt transactions (Outfront & Link Media) looking to take advantage of a strong market in advance of the long anticipated downturn in the lending market.

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