Fairfax Completes $200 Million Senior Notes Offering

Mon Oct 15, 2012 8:25am EDT

* Reuters is not responsible for the content in this press release.


    (Note: All dollar amounts in this press release are expressed in Canadian

    Fairfax Financial Holdings Limited (TSX:FFH)(TSX:FFH.U) has completed its
previously announced offering of $200 million in aggregate principal
amount of 5.84% Senior Notes due 2022. Net proceeds of the issue, after
commissions and expenses of the issue, are approximately $199 million.

    The Senior Notes were offered through a syndicate of dealers led by BMO
Capital Markets, Bank of America Merrill Lynch, CIBC, RBC Capital Markets
and Scotiabank Global Banking and Markets, that includes TD Securities,
Citi Global Markets Canada, Cormark Securities, Canaccord Genuity, GMP
Securities, HSBC Securities and National Bank Financial. The Senior Notes
are unsecured obligations of Fairfax and pay a fixed rate of interest of
5.84 per cent per annum. Fairfax intends to use the net proceeds of the
offering to augment its cash position, to increase short term investments
and marketable securities held at the holding company level, to retire
outstanding debt and other corporate obligations from time to time, and
for general corporate purposes. 

    This press release shall not constitute an offer to sell or the
solicitation of an offer to buy nor shall there be any sale of these
securities in any jurisdiction in which such offer, solicitation or sale
would be unlawful prior to registration or qualification under the
securities laws of any such jurisdiction. This press release is not an
offer of securities for sale in the United States, and the securities may
not be offered or sold in the United States absent registration or an
exemption from registration. The securities have not been and will not be
registered under the United States
Securities Act of 1933. 

    Fairfax is a financial services holding company which, through its
subsidiaries, is engaged in property and casualty insurance and
reinsurance and investment management. 

Fairfax Financial Holdings Limited
John Varnell
Vice President, Corporate Development
(416) 367-4941

Media Contact
Fairfax Financial Holdings Limited
Paul Rivett
Vice President, Operations
(416) 367-4941

Copyright 2012, Market Wire, All rights reserved.


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