Lazard Launches Senior Notes Offering And Tender Offer For 2027 Notes

(RTTNews) - Lazard, Inc. (LAZ) announced that its subsidiary, Lazard Group LLC, is initiating a public offering of one or more series of senior unsecured notes.

These notes will be issued under an effective shelf registration statement filed with the U.S. SEC and will be fully and unconditionally guaranteed by Lazard, Inc. as unsubordinated, unsecured obligations.

Simultaneously, Lazard Group has launched a cash tender offer for any and all of its outstanding 3.625% Senior Notes due March 1, 2027. Proceeds from the new notes offering will be used to repurchase validly tendered 2027 Notes, cover related fees and expenses, and support general corporate purposes.

The offering will be conducted solely through a prospectus supplement and accompanying prospectus, available through the SEC's website and Citigroup's distribution channels. Lazard emphasized that this press release is not an offer to sell or solicit the purchase of any securities in any jurisdiction where such actions would be unlawful. Holders of the 2027 Notes are encouraged to evaluate the offer independently and decide whether or not to tender their holdings.

Monday, LAZ closed at $54.33, or 0.95% lower on the NYSE.