Lazard Announces Redemption of 3.750% Senior Notes Due February 13, 2025 Issued by Lazard Group LLC
Lazard (NYSE: LAZ) announced that its subsidiary Lazard Group will redeem all outstanding 3.750% Senior Notes due February 13, 2025, on December 12, 2024. The Notes, issued under the Indenture dated May 10, 2005, have an outstanding principal amount of $164,347,000. The redemption will be executed at a make-whole redemption price calculated according to the Indenture terms. Interest on the Notes will cease to accrue from the redemption date.
Lazard (NYSE: LAZ) ha annunciato che la sua controllata Lazard Group procederà al rimborso di tutte le Obbligazioni Senior al 3,750% in scadenza il 13 febbraio 2025, il 12 dicembre 2024. Le Obbligazioni, emesse ai sensi del contratto datato 10 maggio 2005, hanno un importo nominale ancora in circolazione di $164.347.000. Il rimborso sarà effettuato a un prezzo di rimborso completo calcolato secondo i termini del contratto. Gli interessi sulle Obbligazioni smetteranno di accumularsi dalla data di rimborso.
Lazard (NYSE: LAZ) anunció que su subsidiaria Lazard Group redimirá todas las Notas Senior al 3,750% que vencen el 13 de febrero de 2025, el 12 de diciembre de 2024. Las Notas, emitidas bajo el contrato fechado el 10 de mayo de 2005, tienen un monto principal pendiente de $164,347,000. La redención se llevará a cabo a un precio de redención total calculado de acuerdo con los términos del contrato. Los intereses de las Notas dejarán de acumularse a partir de la fecha de redención.
Lazard (NYSE: LAZ)는 그 자회사 Lazard Group가 2025년 2월 13일 만기되는 모든 3.750% 선순위 노트를 2024년 12월 12일에 상환할 것이라고 발표했습니다. 이 노트는 2005년 5월 10일자 계약에 따라 발행되었으며, 현재 미상환 원금은 $164,347,000입니다. 상환은 계약 조건에 따라 계산된 완전 상환 가격으로 실행될 것입니다. 상환일부터 노트에 대한 이자는 더 이상 발생하지 않습니다.
Lazard (NYSE: LAZ) a annoncé que sa filiale Lazard Group procèdera au remboursement de toutes les Obligations Senior à 3,750% arrivant à échéance le 13 février 2025, le 12 décembre 2024. Les Obligations, émises en vertu de l'Acte daté du 10 mai 2005, ont un montant principal restant de 164.347.000 $. Le remboursement sera effectué à un prix de remboursement intégral calculé conformément aux termes de l'Acte. Les intérêts sur les Obligations cesseront d'être accumulés à partir de la date de remboursement.
Lazard (NYSE: LAZ) hat angekündigt, dass seine Tochtergesellschaft Lazard Group alle ausstehenden 3,750% Senior Notes, die am 13. Februar 2025 fällig sind, am 12. Dezember 2024 einlösen wird. Die Notes, die unter dem Vertrag vom 10. Mai 2005 ausgegeben wurden, haben einen noch ausstehenden Nennbetrag von 164.347.000 $. Die Einlösung erfolgt zum Preis einer vollständigen Einlösung, berechnet gemäß den Vertragsbedingungen. Die Zinsen auf die Notes werden ab dem Datum der Einlösung nicht mehr anfallen.
- Early debt retirement demonstrates proactive financial management
- Reduction of $164.3M in outstanding debt obligations
- Make-whole redemption price likely includes premium over par value, increasing redemption cost
- Potential cash outflow impact on company's liquidity
Insights
This early redemption of
The make-whole provision protects bondholders by ensuring they receive approximately the same value as if they held the bonds to maturity, discounted at Treasury rates plus a spread. While neutral for bondholders who receive fair compensation, this move gives Lazard flexibility in managing its debt structure and potentially reducing interest expenses if refinancing at favorable terms.
The Notes will be redeemed at a make-whole redemption price calculated in accordance with the Indenture (the “Redemption Payment”). From and after the Redemption Date, all interest will cease to accrue on the Notes.
Investors in the Notes should contact the bank or broker through which they hold a beneficial interest in the Notes for information about obtaining the Redemption Payment for any Notes in which they have a beneficial interest.
About Lazard
Founded in 1848, Lazard is one of the world's preeminent financial advisory and asset management firms, with operations in
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Media Relations
Shannon
shannon.houston@lazard.com
Investor Relations
Alexandra Deignan, +1 212-632-6886
alexandra.deignan@lazard.com
Source: Lazard, Inc.
FAQ
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