Transaction|April 29, 2020

Fairfax completes US$650 million senior notes offering

Torys acted as counsel to Fairfax with a team that included Mile Kurta, Chris Bornhorst, Rayanna Smith and Jennifer Wang (corporate/securities), David Mattingly and Jonathan Weinblatt (tax).

On April 29, 2020, Fairfax Financial Holdings Limited ("Fairfax") completed its previously announced offering of US$650 million in aggregate principal amount of 4.625% senior notes due 2030. 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, or to certain non-U.S. persons in offshore transactions pursuant to Regulation S under the Securities Act.

Fairfax will use US$500 million of the net proceeds from the offering to repay indebtedness under its unsecured revolving credit facility. The net proceeds in excess of this amount will be used to repay outstanding debt of Fairfax and its subsidiaries and for general corporate purposes of Fairfax and its subsidiaries.

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