Item 1.01. Entry into a Material Definitive Agreement.

On June 24, 2022, Lamar Advertising Company's direct wholly owned subsidiary Lamar Media Corp. ("Lamar Media") and indirect wholly-owned special purpose subsidiaries, Lamar QRS Receivables, LLC and Lamar TRS Receivables, LLC (collectively, the "SPEs"), entered into the Sixth Amendment, dated as of June 24, 2022 (the "Amendment"), to the Receivables Financing Agreement dated December 18, 2018, by and among Lamar Media, as Initial Servicer, the SPEs, as Borrowers, PNC Bank, National Association, as Administrative Agent and a Lender, PNC Capital Markets LLC, as Structuring Agent and Sustainability Agent, and certain lenders from time to time party thereto (such agreement, as amended, the "Receivables Financing Agreement"). Capitalized terms not defined herein shall have the meanings set forth in the Receivables Financing Agreement.

The Amendment increases the amount of the accounts receivable securitization program established under the Receivables Financing Agreement (the "Accounts Receivable Securitization Program") from $175.0 million to $250.0 million and extends the maturity date of the Accounts Receivable Securitization Program to July 21, 2025. Additionally, the Amendment provides for the replacement of LIBOR-based interest rate mechanics with SOFR-based interest rate mechanics for the Accounts Receivable Securitization Program.

The Administrative Agent and its affiliates perform various financial advisory, investment banking and commercial banking services from time to time for Lamar Media and its affiliates, for which it receives customary fees. The Administrative Agent is a lender under Lamar Media's senior credit facility, for which it receives customary fees and expense reimbursement in connection therewith.

The description above is qualified in its entirety by the Amendment filed as Exhibit 10.1 to this Current Report on Form 8-K and incorporated herein by reference.

Item 2.03. Creation of a Direct Financial Obligation or an Obligation under an


           Off-Balance Sheet Arrangement of a Registrant.

The information set forth in Item 1.01 above is incorporated by reference into this Item 2.03.

Item 9.01. Financial Statements and Exhibits.




(d) Exhibits


Exhibit
  No.                                    Description

10.1          Sixth Amendment to the Receivables Financing Agreement, dated as of
            June 24, 2022, among Lamar Media, as Initial Servicer, the SPEs, as
            Borrowers, and PNC Bank, National Association, as Administrative Agent
            and a Lender.

104         Cover Page Interactive Data File - (embedded within the Inline XBRL
            document).

--------------------------------------------------------------------------------

© Edgar Online, source Glimpses