Company: LAZ
Filing Date: 2025-05-01
Form Type: 10-Q
Source: 0001628280-25-021162
Chunk: 25

Company: Lazard, Inc.
Filing Date: 2025-05-01
Form: 10-Q
Item: Part I, Item 2
Chunk 25
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 requirements, respectively.

57

Senior Debt

The table below sets forth our corporate indebtedness as of March 31, 2025 and December 31, 2024. The agreements with respect to this indebtedness are discussed in more detail in our condensed consolidated financial statements and related notes included elsewhere in this Form 10-Q and in our Form 10-K.

Outstanding as of March 31, 2025December 31, 2024Senior DebtAnnual Interest RatePrincipalUnamortizedDebt CostsCarryingValuePrincipalUnamortizedDebt CostsCarryingValue($ in millions)Lazard Group 2027   Senior Notes3.625 %$300.0 $1.1 $298.9 $300.0 $1.2 $298.8 Lazard Group 2028   Senior Notes4.50 %500.0 3.5 496.5 500.0 3.8 496.2 Lazard Group 2029  Senior Notes4.375 %500.0 3.6 496.4 500.0 3.9 496.1 Lazard Group 2031   Senior Notes6.00 %400.0 3.9 396.1 400.0 4.1 395.9 $1,700.0 $12.1 $1,687.9 $1,700.0 $13.0 $1,687.0 

The indenture and supplemental indentures relating to Lazard Group LLC’s senior notes contain certain covenants (none of which relate to financial condition), events of default and other customary provisions. At March 31, 2025, the Company was in compliance with all of these provisions. We may, to the extent required and subject to restrictions contained in our financing arrangements, use other financing sources, which may cause us to be subject to additional restrictions or covenants.

Guarantor Information

Lazard, Inc. has provided an unconditional and irrevocable guarantee for the repayment of the Lazard Group 2027 Notes, 2028 Notes, 2029 Notes and 2031 Notes (collectively, the “Lazard Group Senior Notes”), and has amended the Second Amended and Restated Credit Agreement, to provide an unconditional and irrevocable guarantee for Lazard Group's obligations under the Second Amended and