Fairfax completes C$850 million senior notes offering
On March 1, 2021, Fairfax Financial Holdings Limited (“Fairfax”) completed its previously announced offering of C$850 million in aggregate principal amount of senior notes due 2031. The senior notes are unsecured obligations of Fairfax and pay a fixed rate of interest of 3.95% per annum.
The notes were offered through a syndicate of underwriters led by Scotiabank, BMO Capital Markets, and RBC Capital Markets, as joint bookrunners.
Fairfax intends to use the net proceeds of the offering to redeem (i) the C$446 million outstanding principal amount of its 5.84% senior notes due October 14, 2022 (plus accrued and unpaid interest); and (ii) the C$400 million outstanding principal amount of its 4.50% senior notes due March 22, 2023 (plus accrued and unpaid interest).
Further information can be found on Globe Newswire’s website.
Fairfax is a holding company which, through its subsidiaries, is engaged in property and casualty insurance and reinsurance and the associated investment management.