Fairfax completes US$200 million reopening of senior notes
On January 12, 2024, Fairfax Financial Holdings Limited (“Fairfax”) completed its previously announced offering of additional US$200 million aggregate principal amount of its 6.000% senior notes due December 7, 2033. Together with the previously issued US$400 million aggregate principal amount of notes of the series, there is US$600 million aggregate principal amount of notes 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 substantially all of the net proceeds from the offering of the additional notes, together with a portion of the net proceeds from the issuance of the notes, to repay outstanding indebtedness with upcoming maturities and use any remainder for repayment of other outstanding indebtedness of Fairfax or its subsidiaries and 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.