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Lazard Group closes senior note offering

Lazard Ltd. unit Lazard Group LLC completed its offering of $500 million of its 4.375% senior notes due 2029, with a portion of the net proceeds to be used to repurchase or redeem the company's outstanding 2020 notes. In connection with that, Lazard Group notified the holders of the 2020 notes to redeem the notes not purchased in the recent tender offer. Following that, the remaining outstanding notes will be redeemed on April 10 at a make-whole redemption price.

Proceeds of the $500 million offering will also be used to pay related fees and expenses as well as for general corporate purposes, including potential repurchases of the holding company's class A common shares.

Also, Lazard Group's cash tender offer for up to $250 million of its outstanding 4.250% senior notes due Nov. 14, 2020, has expired.

The holding company disclosed a total consideration of $1,022.18 per $1,000 principal amount of the notes validly tendered and not validly withdrawn.