Company: LAZ
Filing Date: 2025-02-24
Form Type: 10-K
Source: 0001628280-25-007441
Chunk: 286

Company: Lazard, Inc.
Filing Date: 2025-02-24
Form: 10-K
Item: Item 7
Chunk 286
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 which relate to financial condition), events of default and other customary provisions. At December 31, 2024, the Company was in compliance with all financial and nonfinancial provisions. 

Lazard’s annual cash flow generated from operations historically has been sufficient to enable it to meet its annual obligations. We believe that the sources of liquidity described above should be sufficient for us to fund our current obligations for the next 12 months.

See also Notes 14, 16, 17, 19, 21 and 22 of Notes to Consolidated Financial Statements regarding information in connection with commitments, incentive plans, employee benefit plans, income taxes, tax receivable agreement obligations and regulatory requirements, respectively.

58

Senior Debt

The table below sets forth our corporate indebtedness as of December 31, 2024 and 2023. The agreements with respect to this indebtedness are discussed in more detail in our consolidated financial statements and related notes included elsewhere in this Form 10-K. 

Outstanding as ofDecember 31, 2024December 31, 2023Senior DebtAnnual Interest RatePrincipalUnamortizedDebt CostsCarryingValuePrincipalUnamortizedDebt CostsCarryingValue($ in millions)Lazard Group 2025 Senior Notes3.75 %$– $– $– $400.0 $0.5 $399.5 Lazard Group 2027 Senior Notes3.625 %300.0 1.2 298.8 300.0 1.3 298.7 Lazard Group 2028 Senior Notes4.50 %500.0 3.8 496.2 500.0 4.0 496.0 Lazard Group 2029 Senior Notes4.375 %500.0 3.9 496.1 500.0 4.0 496.0 Lazard Group 2031 Senior Notes6.00 %400.0 4.1 $395.9 – – – $1,700.0 $13.0 $1,687.0 $1,700.0 $9.8 $1,690.2 

In the first quarter of 2024, Lazard Group issued $400 million of 6.0% senior notes due March 2031 to refinance the upcoming maturity of our 2025 Notes. At that time we