Fairfax completes US$400 million senior notes offering
Torys acted as counsel to Fairfax with a team that included Chris Bornhorst, Connor Murray and Maija Fiorante (corporate/U.S. securities), Robbie Leibel and Sarah Rimer (corporate/Canadian securities).
On December 7, 2023, Fairfax Financial Holdings Limited (“Fairfax”) completed its previously announced offering of US$400 million in aggregate principal amount of 6.000% senior notes due 2033.
The offering was made solely by means of a private placement either to qualified institutional buyers pursuant to Rule 144A under the U.S. Securities Act of 1933, as amended, or to certain non-U.S. persons in offshore transactions pursuant to Regulation S under the U.S. Securities Act.
In connection with the closing of the offering, Fairfax entered into a customary registration rights agreement.Fairfax intends to use substantially all of the net proceeds of the offering to repay outstanding indebtedness of Fairfax or its subsidiaries with upcoming maturities and use any remainder for general corporate purposes.
Further information can be found on Globe Newswire’s website.
Fairfax is a holding company which, through its subsidiaries, is primarily engaged in property and casualty insurance and reinsurance and the associated investment management.