Lamar Advertising (LAMR) Announces Tender Offer For 2⅞% Convertible Notes Due 2010
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Lamar Advertising Company (NASDAQ: LAMR) announced that it has commenced a tender offer to purchase for cash any and all of its outstanding 2⅞% Convertible Notes due 2010 - Series B. The full terms and conditions of the tender offer are set forth in the Offer to Purchase, Letter of Transmittal and related materials to be distributed to holders of notes and to be filed with the SEC as exhibits to Lamar's Schedule TO on or about the date hereof.
Lamar is offering to purchase the notes at a price of $960 for each $1,000 principal amount of notes tendered. The tender offer for the notes will expire at 12:00 midnight, New York City time, at the end of July 9, 2009, unless earlier terminated or extended pursuant to the terms of the tender offer.
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