Fairfax completes US$750 million senior notes offering
On August 16, 2022, Fairfax Financial Holdings Limited (“Fairfax”) completed its previously announced offering of US$750 million in aggregate principal amount of 5.625% senior notes due 2032. 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 (the “Securities Act”), or to certain non-U.S. persons in offshore transactions pursuant to Regulation S under the 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 purchase a portion of the non-controlling interests in Allied World Assurance Company Holdings, Ltd (“Allied World”), 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.