Lazard commences cash tender offer for all outstanding 2027 notes

NEW YORK - Lazard, Inc. (NYSE:LAZ), a financial services firm with a market capitalization of $5.2 billion, announced Monday that its subsidiary Lazard Group LLC is launching a cash tender offer for any and all of its outstanding 3.625% Senior Notes due March 1, 2027. According to InvestingPro data, the company maintains a strong financial position with liquid assets exceeding short-term obligations, as evidenced by a healthy current ratio of 3.31.

The tender offer will expire at 5:00 p.m. New York City time on August 1, 2025, unless extended or terminated as described in the offer documents. This debt management initiative comes as Lazard demonstrates solid financial health, earning a "GOOD" overall rating from InvestingPro’s comprehensive analysis framework.

Holders who validly tender their notes by the expiration time will receive the total consideration, which will be determined by reference to a fixed spread of 30 basis points over the yield of the 1.250% U.S. Treasury Notes due November 30, 2026. The price will be calculated at 2:00 p.m. on August 1, 2025.

In addition to the purchase price, noteholders will receive accrued and unpaid interest up to, but not including, the settlement date, which is expected to be the business day following the expiration time.

The tender offer is conditional upon Lazard Group receiving sufficient net proceeds from one or more offerings of senior unsecured notes after July 28, 2025, to fund the purchase of all accepted notes and related fees and expenses.

Citigroup Global Markets Inc. is acting as lead dealer manager for the tender offer, with Lazard Frères & Co. LLC serving as co-dealer manager.

Founded in 1848, Lazard provides financial advisory and asset management services globally, including advice on mergers and acquisitions, capital markets, restructuring, and investment solutions. The company has maintained dividend payments for 21 consecutive years, currently offering a 3.65% yield. For deeper insights into Lazard’s financial performance and future prospects, investors can access detailed analysis through InvestingPro’s comprehensive research reports, available for over 1,400 US stocks.

The information in this article is based on a press release statement from Lazard, Inc.

In other recent news, Lazard reported impressive second-quarter 2025 results, with adjusted earnings per share reaching $0.52, surpassing analyst expectations of $0.39. The company’s revenue also exceeded projections, coming in at $796 million compared to the consensus estimate of $702.7 million. This strong performance was primarily driven by a 20% surge in its Financial Advisory revenue. Following these results, Keefe, Bruyette & Woods raised its price target for Lazard to $60 from $57, maintaining a Market Perform rating. The firm cited expectations of higher revenue and a lower compensation ratio in 2026 as reasons for the increased price target. These developments reflect a positive outlook for Lazard’s future financial performance.

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