Lamar Advertising Company and its subsidiary Lamar Media Corp. have entered into an Eighth Amendment to their existing Receivables Financing Agreement. The agreement, originally dated December 18, 2018, was amended on October 1, 2026.
The primary change outlined in the filing is an extension of the maturity date for the Accounts Receivable Securitization Program established under the original agreement. The maturity date has been extended to October 1, 2029.
The amendment also introduces additional flexibility regarding the eligibility of certain receivables under the securitization program. The amendment was entered into by Lamar Media as the Initial Servicer and the SPEs, which are indirect wholly-owned special purpose subsidiaries, Lamar QRS Receivables, LLC and Lamar TRS Receivables, LLC. PNC Bank, National Association serves as the Administrative Agent and a Lender, while PNC Capital Markets LLC acts as the Structuring Agent and Sustainability Agent.
The filing notes that the Administrative Agent and its affiliates perform various financial advisory, investment banking, and commercial banking services for Lamar Media and its affiliates, for which they receive customary fees. Additionally, the Administrative Agent is a lender under Lamar Media’s senior credit facility.
