Lamar Advertising Company announced that it is seeking to raise approximately $400 million through an institutional private placement of senior notes due 2026 by its wholly owned subsidiary, Lamar Media Corp. Lamar Media intends to use the proceeds of this offering, after the payment of fees and expenses, to repay the $300 million Term A-1 loan that it borrowed on January 7, 2016 to fund the acquisition of certain assets of Clear Channel Outdoor Holdings Inc. and a portion of the borrowings outstanding under its revolving credit facility. This announcement is neither an offer to sell nor a solicitation of an offer to buy the Notes.