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Lazard Announces Results of Cash Tender Offer of Lazard Group LLC

Retrieved on:

Wednesday, March 13, 2024

Banking, Professional Services, Finance, Accepted, Settlement date, Letter, LAZ, Tender offer, Tender, Debt-to-GDP ratio

Lazard, Inc. (NYSE: LAZ) announced today the expiration and final results of the previously announced cash tender offer (the “Tender Offer”) of its subsidiary Lazard Group LLC (“Lazard Group”) for any and all of its outstanding 3.750% Senior Notes due February 13, 2025 (the “Notes”).

Key Points:

Lazard, Inc. (NYSE: LAZ) announced today the expiration and final results of the previously announced cash tender offer (the “Tender Offer”) of its subsidiary Lazard Group LLC (“Lazard Group”) for any and all of its outstanding 3.750% Senior Notes due February 13, 2025 (the “Notes”).
The terms and conditions of the Tender Offer were described by Lazard Group in an Offer to Purchase and related Letter of Transmittal and Notice of Guaranteed Delivery dated March 6, 2024.
Lazard Group retained Citigroup Global Markets Inc. and Lazard Frères & Co. LLC to serve as the dealer managers for the Tender Offer.
In those jurisdictions where the securities, blue sky or other laws require the Tender Offer to be made by a licensed broker or dealer, the Tender Offer was deemed to have been made on behalf of Lazard Group by the dealer managers for the Tender Offer or one or more registered brokers or dealers licensed under the laws of such jurisdictions.

Lazard Announces Closing of Senior Notes Offering by Lazard Group LLC

Retrieved on:

Tuesday, March 12, 2024

Banking, Asset Management, Professional Services, Finance, Letter, LAZ, Security (finance), Tender offer, Note, Tender, Debt-to-GDP ratio

Lazard, Inc. (NYSE: LAZ) announced today that its subsidiary Lazard Group LLC (“Lazard Group”) has completed its previously announced offering (the “Offering”) of $400,000,000 aggregate principal amount of 6.000% Senior Notes due 2031 (the “Notes”).

Key Points:

Lazard, Inc. (NYSE: LAZ) announced today that its subsidiary Lazard Group LLC (“Lazard Group”) has completed its previously announced offering (the “Offering”) of $400,000,000 aggregate principal amount of 6.000% Senior Notes due 2031 (the “Notes”).
The Notes were issued by Lazard Group and were offered pursuant to an effective shelf registration statement filed with the Securities and Exchange Commission.
The Notes are senior unsecured obligations of Lazard Group.
In that regard, Lazard, Inc. previously announced the commencement of a cash tender offer (the “Tender Offer”) by Lazard Group for any and all of the 2025 Notes.

Lazard Reports February 2024 Assets Under Management

Retrieved on:

Tuesday, March 12, 2024

Professional Services, Finance, LAZ, AUM

Lazard, Inc. (NYSE: LAZ) reported today that its preliminary assets under management (“AUM”) as of February 29, 2024 totaled approximately $248.0 billion.

Key Points:

Lazard, Inc. (NYSE: LAZ) reported today that its preliminary assets under management (“AUM”) as of February 29, 2024 totaled approximately $248.0 billion.
The month’s AUM included market appreciation of $7.0 billion, net outflows of $2.0 billion and foreign exchange depreciation of $0.8 billion.

Lazard Announces Commencement of Senior Notes Offering and Concurrent Tender Offer by Lazard Group LLC

Retrieved on:

Wednesday, March 6, 2024

Professional Services, Finance, Letter, Prospectus, Telephone, Greenwich Street, Sale, Debt-to-GDP ratio, Information, Tender offer, Broadridge Financial Solutions, Security (finance), LAZ, Tender, Offering

Lazard, Inc. (NYSE: LAZ) announced today that its subsidiary Lazard Group LLC (“Lazard Group”) is commencing an offering (the “Offering”) of one or more series of its senior notes (the “Notes”).

Key Points:

Lazard, Inc. (NYSE: LAZ) announced today that its subsidiary Lazard Group LLC (“Lazard Group”) is commencing an offering (the “Offering”) of one or more series of its senior notes (the “Notes”).
The Notes would be senior unsecured obligations of Lazard Group.
Concurrently with the Offering, Lazard Group is commencing a cash tender offer (the “Tender Offer”) for any and all of its outstanding 3.750% Senior Notes due February 13, 2025 (the “2025 Notes”).
Citigroup Global Markets Inc. and Lazard Frères & Co. LLC are acting as joint lead book-running managers and joint lead managers for the Offering.

Lazard Reports January 2024 Assets Under Management

Retrieved on:

Monday, February 12, 2024

Professional Services, Finance, LAZ, AUM

Lazard, Inc. (NYSE: LAZ) reported today that its preliminary assets under management (“AUM”) as of January 31, 2024 totaled approximately $243.8 billion. The month’s AUM included foreign exchange depreciation of $2.3 billion, net outflows $2.1 billion and market appreciation of $1.6 billion.

Key Points:

Lazard, Inc. (NYSE: LAZ) reported today that its preliminary assets under management (“AUM”) as of January 31, 2024 totaled approximately $243.8 billion. The month’s AUM included foreign exchange depreciation of $2.3 billion, net outflows $2.1 billion and market appreciation of $1.6 billion.

Lazard Declares Quarterly Dividend of $0.50 Per Share

Retrieved on:

Wednesday, January 31, 2024

Finance, Consulting, Banking, Professional Services, Asset Management, LAZ

Lazard, Inc. (NYSE: LAZ) today announced that its Board of Directors has voted to declare a quarterly dividend of $0.50 per share on its outstanding common stock. The dividend is payable on February 23, 2024, to stockholders of record on February 12, 2024.

Key Points:

Lazard, Inc. (NYSE: LAZ) today announced that its Board of Directors has voted to declare a quarterly dividend of $0.50 per share on its outstanding common stock. The dividend is payable on February 23, 2024, to stockholders of record on February 12, 2024.

Lazard Appoints Dan Schulman and Stephen R. Howe Jr. to Its Board of Directors

Retrieved on:

Tuesday, January 30, 2024

“We are thrilled that Dan and Steve are joining our Board of Directors,” said Peter R. Orszag, Chief Executive Officer and Director, Lazard.

Key Points:

“We are thrilled that Dan and Steve are joining our Board of Directors,” said Peter R. Orszag, Chief Executive Officer and Director, Lazard.
Stephen R. Howe Jr. is a widely respected executive, board member, and financial services, audit, and corporate governance expert.
“Lazard serves an important role in the financial services landscape, and it is an honor to serve as a member of its Board of Directors.
I look forward to working with Peter and fellow Directors, and leveraging my experience on behalf of the firm,” said Mr. Howe.

Lazard to Announce Fourth Quarter and Full-Year 2023 Financial Results

Retrieved on:

Thursday, January 18, 2024

Asset Management, Professional Services, Finance, LAZ, News, ID, EST

Lazard, Inc. (NYSE: LAZ) will announce its fourth quarter and full-year 2023 financial results in a press release to be issued Thursday morning, February 1, 2024.

Key Points:

Lazard, Inc. (NYSE: LAZ) will announce its fourth quarter and full-year 2023 financial results in a press release to be issued Thursday morning, February 1, 2024.
The press release will be available in the News & Announcements section of Lazard’s website at www.lazard.com .
Lazard will host a conference call at 8:00 a.m. EST on February 1, 2024, to discuss the company’s financial results for the fourth quarter and full-year 2023.
A replay of the conference call will be available by 10:00 a.m. EST on February 1, 2024, through the Investor Relations section of Lazard’s website at www.lazard.com , or by dialing 1 800-938-2241 (toll-free within the U.S. and Canada) or +1 402-220-1121 (outside of the U.S. and Canada).

Lazard Reports December 2023 Assets Under Management

Retrieved on:

Thursday, January 11, 2024

Asset Management, Professional Services, Finance, LAZ, AUM

Lazard, Inc. (NYSE: LAZ) reported today that its preliminary assets under management (“AUM”) as of December 31, 2023 totaled approximately $246.7 billion.

Key Points:

Lazard, Inc. (NYSE: LAZ) reported today that its preliminary assets under management (“AUM”) as of December 31, 2023 totaled approximately $246.7 billion.
The month’s AUM included market appreciation of $8.5 billion, foreign exchange appreciation of $2.0 billion and net inflows of $0.2 billion.
Preliminary average assets under management for the quarter ended December 31, 2023 were $233.9 billion.

Lazard Ltd Completes Conversion to a U.S. C-Corporation and Is Renamed Lazard, Inc.

Retrieved on:

Tuesday, January 2, 2024

Asset Management, Professional Services, Finance, Schedule, FAQ, Partnership, LAZ

Lazard, Inc. (NYSE: LAZ) announced today that it has completed its previously announced conversion from a publicly traded partnership to a U.S. C-Corporation under Delaware Law and changed its name from Lazard Ltd to Lazard, Inc., effective January 1, 2024.

Key Points:

Lazard, Inc. (NYSE: LAZ) announced today that it has completed its previously announced conversion from a publicly traded partnership to a U.S. C-Corporation under Delaware Law and changed its name from Lazard Ltd to Lazard, Inc., effective January 1, 2024.
As a result of the conversion, distributions will generally be dividends for U.S. tax purposes, and shareholders will receive a Form 1099-DIV.
Lazard shareholders of record in 2023 will receive a final Schedule K-1 in March 2024.
Peter R. Orszag, Chief Executive Officer of Lazard, said: “We are pleased to complete our conversion to a U.S. corporation.