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Lazard Announces Commencement Of Senior Notes Offering And Concurrent Tender Offer By Lazard Group LLC

Lazard Ltd (NYSE:LAZ) announced today that its subsidiary Lazard Group LLC (“Lazard Group”) is commencing an offering of $500 million aggregate principal amount of senior notes due 2020 (the “Notes”). The Notes will be issued by Lazard Group and will be offered pursuant to an effective shelf registration statement filed with the Securities and Exchange Commission. The Notes will be senior unsecured obligations of Lazard Group.

Concurrently with the Notes offering, Lazard Group is commencing a cash tender offer (the “Tender Offer”) for any and all of its outstanding 7.125% Senior Notes due May 15, 2015 (the “Existing 2015 Notes”). Lazard Group currently expects that it will exercise its right to optionally redeem any and all Existing 2015 Notes not purchased by it in the Tender Offer at a make-whole redemption price, calculated in accordance with the indenture governing the Existing 2015 Notes.

Lazard Group intends to use the net proceeds of the Notes offering, together with cash on hand, to purchase or redeem all of its outstanding Existing 2015 Notes and to pay fees and expenses related to the foregoing.

The Notes offering is being made solely by means of a prospectus supplement and accompanying prospectus. A copy of the preliminary prospectus supplement and the accompanying prospectus may be obtained by contacting Citigroup Global Markets Inc., by email at batprospectusdept@citi.com, or by phone at (800) 831-9146. An electronic copy of the preliminary prospectus supplement, together with the accompanying prospectus, is also available on the SEC’s website, www.sec.gov.

This press release does not constitute an offer to sell or a solicitation of an offer to buy the Notes, nor shall there be any sale of the Notes in any state or other jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.

Stock quotes in this article: LAZ 

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