Lamar Advertising Seeks To Issue $250M In Notes
Stock quotes in this article:
LAMR
BATON ROUGE, La. (AP) — Billboard operator Lamar Advertising Co. said on Thursday that it is seeking to raise about $250 million through a private placement of senior notes due 2014 by its subsidiary, Lamar Media Corp.
Lamar said the money would go to the parent company so it could repurchase some or all of its convertible notes due next year, or to pay them off at maturity. Lamar shares rose 72 cents, or 10 percent, to $7.93 in afternoon trading.- Loading Comments...
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