Lazard offers new senior notes to take out notes maturing in 2025

Chicago, March 6 – Lazard Group LLC is conducting an offering of senior notes (//BBB+), according to a 424B5 filing with the Securities and Exchange Commission.

The firm is offering the notes primarily as a refinancing transaction, with proceeds allocated to fund a tender offer for notes maturing in 2025 and then a related redemption.

Call protection covers a make-whole call option and then a par call a number of months before the maturity date.

Any change of control will trigger a put at 101.

Citigroup Global Markets Inc. is the lead bookrunner. Lazard Freres & Co. LLC is also a joint lead bookrunner.

Bank of New York Mellon will be the trustee.

Cravath, Swaine & Moore LLP is advising the issuer. Sullivan & Cromwell LLP is listed as counsel for the underwriters.

The issuer is a New York-based financial advisory and asset management firm.

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