Lazard Completes $300M Senior Notes Offering

Lazard, Inc. has announced the successful completion of its Lazard Group LLC's $300 million senior notes offering. The notes, due in 2035 and priced at a 5.625% interest rate, were issued under an effective shelf registration filed with the SEC. They are senior unsecured obligations of the Lazard Group and are guaranteed by Lazard, Inc. These guarantees are also senior and unsecured. The company's strategic move centers on the anticipated use of proceeds to repurchase its existing 3.625% Senior Notes due in 2027 through a concurrent Tender Offer. This is indicative of Lazard's strategy to optimize its capital structure by replacing older debt with better-term financing. The Tender Offer, particularly aimed at the 3.625% Notes, aims to realign the company's long-term debt profile and afford it greater financial flexibility for future initiatives. Additionally, the funds are intended to cover associated fees and further support Lazard's general corporate purposes.