Mr. John Varnell reports
FAIRFAX ANNOUNCES PRICING OF SENIOR NOTES OFFERING
Fairfax Financial Holdings Ltd. has priced a private offering of $400-million (U.S.) of senior notes due 2033 at an issue price of 99.252 per cent. The notes will be unsecured obligations of Fairfax and will pay a fixed rate of interest of 6.000 per cent per annum. Fairfax also intends to enter into a registration rights agreement in connection with the offering.
Fairfax intends to use substantially all of the net proceeds of this offering to repay outstanding indebtedness with upcoming maturities and use any remainder for repayment of other outstanding indebtedness of Fairfax or its subsidiaries and for general corporate purposes. The offering is expected to close on or about Dec. 7, 2023, subject to the satisfaction of customary conditions.
About Fairfax Financial Holdings Ltd.
Fairfax is a holding company which, through its subsidiaries, is primarily engaged in property and casualty insurance and reinsurance and the associated investment management.
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