Company: LAZ
Filing Date: 2025-05-01
Form Type: 10-Q
Source: 0001628280-25-021162
Chunk: 107

Company: Lazard, Inc.
Filing Date: 2025-05-01
Form: 10-Q
Item: Part I, Item 1
Chunk 107
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 3.00 to 1.00. No amounts were outstanding under the Second Amended and Restated Credit Agreement as of March 31, 2025.

In addition, the Second Amended and Restated Credit Agreement contains certain other 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 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 11, 13, 14, 16, 18 and 19 of Notes to Condensed Consolidated Financial Statements regarding information in connection with commitments, incentive plans, employee benefit plans, income taxes, tax receivable agreement obligations and regulatory 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