By Cristal Cody
Tupelo, Miss., March 5 – Lazard Group LLC priced $500 million of 4.375% 10-year senior notes (Baa3/A-/A-) at 99.241 to yield 4.47%, or a spread of 175 basis points over Treasuries, on Tuesday, according to an FWP filing with the Securities and Exchange Commission.
Citigroup Global Markets Inc. was the bookrunner.
Proceeds will be used to repurchase or redeem the company’s 4.25% senior notes due 2020 in a cash tender offer and for general corporate purposes.
Lazard is a New York-based financial advisory and asset management firm.
| Issuer: | Lazard Group LLC
|
| Amount: | $500 million
|
| Description: | Senior notes
|
| Maturity: | March 11, 2029
|
| Bookrunner: | Citigroup Global Markets Inc.
|
| Lead manager: | Lazard Freres & Co. LLC
|
| Co-managers: | BNY Mellon Capital Markets, LLC and HSBC Securities (USA) Inc.
|
| Coupon: | 4.375%
|
| Price: | 99.241
|
| Yield: | 4.47%
|
| Spread: | Treasuries plus 175 bps
|
| Call features: | Make-whole call before three months prior to maturity at price equal to greater of par and Treasuries plus 30 bps; thereafter at par
|
| Trade date: | March 5
|
| Settlement date: | March 11
|
| Ratings: | Moody’s: Baa3
|
| S&P: A-
|
| Fitch: A-
|
| Distribution: | SEC registered
|
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