Lazard Ltd. unit Lazard Group LLC completed a cash tender offer for its outstanding 4.250% senior notes due Nov. 14, 2020.
As of the offer's expiration time, $166.8 million aggregate principal amount of notes was validly tendered and not validly withdrawn, and Lazard Group accepted all of these notes for purchase. This amount does not include notes that may be validly tendered pursuant to guaranteed delivery procedures.
Holders of accepted notes and holders who delivered a properly completed notice of guaranteed delivery will receive a total consideration of $1,022.18 per $1,000 principal amount of notes, along with accrued and unpaid interest up to, but not including, the settlement date, which is expected to occur March 12, and for guaranteed delivery, on March 14.
Lazard Group has delivered to the note holders a notice to redeem any and all notes not purchased in the offer. All of the remaining then-outstanding notes will be redeemed April 10 at a make-whole redemption price.
Lazard Group retained Citigroup Global Markets Inc. and Lazard Frères & Co. LLC to serve as the dealer managers for the tender offer. D.F. King & Co. Inc. was the tender agent.