Lamar Advertising extends receivables securitization program maturity to October 15, 2027
Lamar Media Corp., a subsidiary of Lamar Advertising, amended its accounts receivable securitization program with PNC Bank, extending the maturity to October 15, 2027. The program's maturity could be accelerated to an earlier springing maturity date if certain Term Loan B and liquidity conditions are not met. The filing describes a financing agreement amendment and does not state any change to reported results.
- Amendment dated October 15, 2024 extends the accounts receivable securitization program maturity to October 15, 2027.
- Springing maturity applies if Term Loan B facility maturity, currently February 6, 2027, and liquidity tests are not met on the test date 91 days before that maturity.
- Term Loan B facility is $600.0 million; revolving credit facility is $750.0 million with a current maturity of July 31, 2028.
- PNC Bank, National Association is administrative agent and a lender, and receives customary fees.