Fairfax completes US$600 million offering of senior notes
On April 12, 2018, Fairfax Financial Holdings Limited ("Fairfax") announced that it priced its previously announced private offering of US$600 million of 4.850% senior unsecured notes due 2028 at an issue price of 99.765%. In connection with the closing of the offering, Fairfax entered into a customary registration rights agreement.
The offering is being 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 (the "Securities Act"), or to certain non-U.S. persons in offshore transactions pursuant to Regulation S under the Securities Act.
The offering closed on April 17, 2018.
Fairfax intends to use the net proceeds from this offering to refinance or repay outstanding debt or other corporate obligations of Fairfax and its subsidiaries and for general corporate purposes.
Fairfax is a holding company which, through its subsidiaries, is engaged in property and casualty insurance and reinsurance and investment management.
Further information can be found on Fairfax's website.