debt
confidence high
sentiment neutral
materiality 0.40
Lazard completes consent solicitation, amends indenture and guarantees $1.7B senior notes
Lazard, Inc.
- Lazard obtained required consents to amend reporting covenant on four series of senior notes totaling $1.7B.
- Consent payment of $1.50 per $1,000 principal paid to consenting holders.
- Amendments allow parent entity (Lazard, Inc.) to file reports instead of Lazard Group, with Lazard guaranteeing the notes.
- Notes affected: 3.625% due 2027 ($300M), 4.500% due 2028 ($500M), 4.375% due 2029 ($500M), 6.000% due 2031 ($400M).