Transaction|October 15, 2012
Fairfax Financial completes C$200 million offering of senior notes
Torys acted as counsel to Fairfax Financial with a team that included David Chaikof, Thomas Yeo, Robbie Leibel and Stephen Abrahamson.
On October 15, 2012, Fairfax Financial Holdings Limited (Fairfax) completed its C$200 million offering of aggregate principal amount of 5.84% Senior Notes due 2022.
The Senior Notes were offered through a syndicate of dealers led by BMO Capital Markets, CIBC World Markets, RBC Capital Markets, Scotiabank Global Banking and Markets and Bank of America Merrill Lynch, that includes TD Securities, Cormark Securities, Citi Global Markets Canada, GMP Securities, HSBC Securities, Canaccord Genuity and National Bank Financial. The Senior Notes are unsecured obligations of Fairfax and pay a fixed rate of interest of 5.84% per annum.
Fairfax intends to use the net proceeds of the offering to augment its cash position, to increase short term investments and marketable securities held at the holding company level, to retire outstanding debt and other corporate obligations from time to time and for general corporate purposes.
Fairfax Financial is a financial services holding company.
Further information can be found on Fairfax's website.
The Senior Notes were offered through a syndicate of dealers led by BMO Capital Markets, CIBC World Markets, RBC Capital Markets, Scotiabank Global Banking and Markets and Bank of America Merrill Lynch, that includes TD Securities, Cormark Securities, Citi Global Markets Canada, GMP Securities, HSBC Securities, Canaccord Genuity and National Bank Financial. The Senior Notes are unsecured obligations of Fairfax and pay a fixed rate of interest of 5.84% per annum.
Fairfax intends to use the net proceeds of the offering to augment its cash position, to increase short term investments and marketable securities held at the holding company level, to retire outstanding debt and other corporate obligations from time to time and for general corporate purposes.
Fairfax Financial is a financial services holding company.
Further information can be found on Fairfax's website.