BR’s Lamar Advertising paying down debt

Baton Rouge-based Lamar Advertising Co. will repay $295 million of a $317 million loan Friday using $240 million of the $535 million the outdoor advertiser borrowed in October and the rest in cash.

Lamar has said the remainder of the $535 million — after fees and expenses Lamar netted $527.1 million — will be used to pay off $137.2 million in other debt, acquire NextMedia Outdoor Inc. and for general corporate purposes.

Comments

1) Comment by Frustrated - 12/12/2012

Paying down debt with other debt means they're still in debt. Duh.