Lamar Media borrows $350M Term A Loans, repays revolver and AR facility

LAMAR ADVERTISING CO/NEW

$350M Term A Loans established under Amendment No.2 to Credit Agreement dated Feb 2020.
Proceeds used to repay all outstanding revolving credit facility and a portion of AR securitization.
Term A Loans bear interest at Term SOFR + 1.25% or Base Rate + 0.25%; mature Feb 6, 2025.
All $350M borrowed on July 29, 2022, the amendment effective date.
Subsidiary guarantors reaffirmed guarantees and collateral under Credit Agreement.

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