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Fairfax Financial Holdings Ltd Launches $200 Million Senior Notes Offering


Wednesday, 10 Oct 2012 05:02pm EDT 

Fairfax Financial Holdings Ltd announced that it intends to offer $200 million in aggregate principal amount of 5.84% Senior Notes due 2022. The Senior Notes will be offered through a syndicate of dealers to be led by BMO Capital Markets, CIBC World Markets, RBC Capital Markets, Scotiabank Global Banking and Markets and Bank of America Merrill Lynch, that includes TD Securities, Cormark Securities, Citi Global Markets Canada, GMP Securities, HSBC Securities, Canaccord Genuity and National Bank Financial. The Senior Notes will be unsecured obligations of Fairfax and will pay a fixed rate of interest of 5.84% 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.