Billboard Loans Blog

Dave Westburg on Billboard Lending
Billboard Lending

Dave Westburg on Billboard Lending

Jim Johnsen of Johnsen Fretty interviewed Dave Westburg of Billboard Loans about billboard lending.  We’ve reproduced the interview below. Dave, you’ve done a terrific job building Billboard Insider into a great source of information.  I enjoy reading it first thing each morning.  I feel very honored to sit in your seat […]

Billboard Investing

Drachman on Recent Outdoor Deals

Max Drachman is a outdoor advertising industry investment banker with Kalil and Co.  We interviewed Drachman about about trends in the outdoor advertising M&A market. Max, have you closed any transactions since the last time we checked in with you in early September? Yes, we have closed four more deals […]

Outdoor Valuations September 2016
Billboard Values

Outdoor Valuations September 2016

Public outdoor company valuations shrank slightly during the third quarter of 2016 as this chart demonstrates: Public Company Outdoor Values September 2016 The average revenue multiple for the four public outdoor companies shrank from 3.74 times to 3.60 times.  JCDecaux, Clear Channel Outdoor and Outfront trade at a lower revenue […]

Billboard Lending

Avoid the Equipment Leasing Death Penalty

Almost all equipment leasing companies except Billboard Loans have prepayment penalties. Sometimes the prepayment penalties are called yield maintenance clauses. Sometimes the prepayment penalty is a fixed % of the lease amount (5% in year 1, 4% in year 2, 3% in year 3…). The death penalty prepayment clause says […]

Miscellaneous

The Pros and Cons of Equipment Leasing

Many of you got your start leasing your billboards from Courtesy Finance. Courtesy is no longer around but companies like Geneva Capital write equipment leases. Here are the pros and cons of equipment leases. Pros of Equipment Leasing 100% financing. Because leasing companies understand equipment they will often lend 100% […]