Lamar Advertising Co. announced that it is seeking to raise approximately $400 million through an institutional private placement of senior subordinated notes due 2022 by its subsidiary, Lamar Media Corp. Lamar Media intends to use the proceeds of this offering, after the payment of fees and expenses together with approximately $139.2 million of borrowings under the revolving portion of Lamar Media's senior credit facility, towards the purchase of its outstanding 6 5/8% Senior Subordinated Notes due 2015, 6 5/8% Senior Subordinated Notes due 2015-Series B and 6 5/8% Senior Subordinated Notes due 2015-Series C (collectively, the 6 5/8% Notes) in a tender offer, the redemption of the 6 5/8% Notes, the payment of the 6 5/8% Notes at maturity or for general corporate purposes.