Lazard Announces Closing of Senior Notes Offering by Lazard Group LLC
12 Marzo 2024 - 2:05PM
Business Wire
Lazard, Inc. (NYSE: LAZ) announced today that its subsidiary
Lazard Group LLC (“Lazard Group”) has completed its previously
announced offering (the “Offering”) of $400,000,000 aggregate
principal amount of 6.000% Senior Notes due 2031 (the “Notes”). The
Notes were issued by Lazard Group and were offered pursuant to an
effective shelf registration statement filed with the Securities
and Exchange Commission. The Notes are senior unsecured obligations
of Lazard Group.
Lazard Group previously announced its intention to use a portion
of the net proceeds from the Offering to repurchase all of its
outstanding 3.750% Senior Notes due February 13, 2025 (the “2025
Notes”) that are validly tendered and not validly withdrawn and
accepted for purchase pursuant to the Tender Offer (as defined
below), and to pay fees and expenses related to the Tender Offer,
and to use the remaining amount for general corporate purposes. In
that regard, Lazard, Inc. previously announced the commencement of
a cash tender offer (the “Tender Offer”) by Lazard Group for any
and all of the 2025 Notes. The Tender Offer expires today at 5:00
p.m. (New York City time), unless extended or terminated as
described in the Offer to Purchase.
This press release is for informational purposes only and is
neither an offer to purchase nor a solicitation of an offer to sell
the securities described herein. The Tender Offer was made solely
by means of the Offer to Purchase and related Letter of Transmittal
and Notice of Guaranteed Delivery dated March 6, 2024. The Tender
Offer is void in all jurisdictions where it is prohibited. In those
jurisdictions where the securities, blue sky or other laws require
the Tender Offer to be made by a licensed broker or dealer, the
Tender Offer was deemed to have been made on behalf of Lazard Group
by the dealer managers for the Tender Offer or one or more
registered brokers or dealers licensed under the laws of such
jurisdictions.
About Lazard
Founded in 1848, Lazard is one of the world’s preeminent
financial advisory and asset management firms, with operations in
North and South America, Europe, the Middle East, Asia, and
Australia. Lazard provides advice on mergers and acquisitions,
capital markets and capital solutions, restructuring and liability
management, geopolitics, and other strategic matters, as well as
asset management and investment solutions to institutions,
corporations, governments, partnerships, family offices, and high
net worth individuals. For more information, please visit
www.lazard.com.
Cautionary Note Regarding Forward-Looking Statements:
This press release contains forward-looking statements. In some
cases, you can identify these statements by forward-looking words
such as “may,” “might,” “will,” “should,” “could,” “would,”
“expect,” “plan,” “anticipate,” “believe,” “estimate,” “predict,”
“potential,” “target,” “goal,” or “continue,” and the negative of
these terms and other comparable terminology. These forward-looking
statements, which are subject to known and unknown risks,
uncertainties and assumptions about us, may include projections of
our future financial performance based on our strategies, business
plans and initiatives and anticipated trends in our business. These
forward-looking statements are only predictions based on our
current expectations and projections about future events. There are
important factors that could cause our actual results, level of
activity, performance or achievements to differ materially from the
results, level of activity, performance or achievements expressed
or implied by these forward-looking statements.
These factors include, but are not limited to, those discussed
in our Annual Report on Form 10-K under Item 1A “Risk Factors,” and
also discussed from time to time in our reports on Forms 10-Q and
8-K, including the following:
- A decline in general economic conditions or the global or
regional financial markets;
- A decline in our revenues, for example due to a decline in
overall mergers and acquisitions (“M&A”) activity, our share of
the M&A market or our assets under management (“AUM”);
- Losses caused by financial or other problems experienced by
third parties;
- Losses due to unidentified or unanticipated risks;
- A lack of liquidity, i.e., ready access to funds, for use in
our businesses;
- Competitive pressure on our businesses and on our ability to
retain and attract employees at current compensation levels;
and
- Changes in relevant tax laws, regulations or treaties or an
adverse interpretation of these items.
Although we believe the statements reflected in the
forward-looking statements are reasonable, we cannot guarantee
future results, level of activity, performance, achievements or
events. Neither we nor any other person assumes responsibility for
the accuracy or completeness of any of these forward-looking
statements. You should not rely upon forward-looking statements as
predictions of future events. We are under no duty to update any of
these forward-looking statements after the date of this release to
conform our prior statements to actual results or revised
expectations and we do not intend to do so.
Lazard, Inc. is committed to providing timely and accurate
information to the investing public, consistent with our legal and
regulatory obligations. To that end, Lazard and its operating
companies use their websites, and other social media sites to
convey information about their businesses, including the
anticipated release of quarterly financial results, quarterly
financial, statistical and business-related information, and the
posting of updates of assets under management in various mutual
funds, hedge funds and other investment products managed by Lazard
Asset Management LLC and Lazard Frères Gestion SAS. Investors can
link to Lazard and its operating company websites through
www.lazard.com.
LAZ-CPE
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version on businesswire.com: https://www.businesswire.com/news/home/20240312887075/en/
Media contact: Shannon Houston, +1
212 632 6880 shannon.houston@lazard.com
Investor contact: Alexandra
Deignan, +1 212 632 6886 alexandra.deignan@lazard.com
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