Fairfax completes US$750 million offering of senior notes

On June 24, 2024, Fairfax Financial Holdings Limited (“Fairfax”) completed its previously announced offering of US$600 million in aggregate principal amount of 6.100% senior notes due 2055 and an additional US$150 million aggregate principal amount of its 6.000% senior notes due 2033. Together with the previously issued US$600 million aggregate principal amount of 6.000% senior notes due 2033, there is US$750 million aggregate principal amount of notes of this series outstanding.

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.

Fairfax intends to use the net proceeds from the offering to redeem all outstanding US$500 million aggregate principal amount of 4.35% senior notes due 2025 of its subsidiary, Allied World Assurance Company Holdings I, Ltd., and use any remainder for general corporate purposes.

Further information can be found on Fairfax’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.