Fairfax completes C$650 million offering of senior unsecured notes

December 04, 2017

Torys represented Fairfax with a team that included David Chaikof, Robbie Leibel and Riley Harmon.

On November 28, 2017, Fairfax Financial Holdings Limited (“Fairfax”) announced that it intends to offer C$650 million in aggregate principal amount of 4.25% senior unsecured notes due 2027 to be priced at C$99.992 per C$100 principal amount. The notes will be offered through a syndicate of dealers to be led by BMO Capital Markets and RBC Capital Markets, as joint bookrunners, and including CIBC World Markets Inc., Merrill Lynch Canada Inc., National Bank Financial Inc., Scotia Capital Inc., TD Securities Inc., Citigroup Global Markets Canada Inc. and Desjardins Securities Inc., as agents.

The offering closed on December 4, 2017.

Fairfax intends to use the net proceeds of the 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.

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