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Fairfax Financial Holdings Ltd Completes $200 Million Senior Notes Offering

Monday, 15 Oct 2012 08:28am EDT 

Fairfax Financial Holdings Ltd announced the 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. 

Company Quote

-2.98 -0.58%
22 Jul 2014