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Lazard calls 6.85% notes using make-whole provision
New York, Nov. 4 – Lazard Ltd. exercised the make-whole call for its $98.4 million of 6.85% senior notes due June 15, 2017.
The company’s announcement did not give the date of redemption.
Funding for the repayment will come from Lazard Group LLC’s recently priced $300 million of 3.625% senior notes due 2027.
Remaining proceeds will be used to repurchase class A common stock and for general corporate purposes.
Lazard is a New York-based financial adviser and asset manager.
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