First American Financial Corporation Prices Senior Notes Offering
24 Settembre 2024 - 2:00AM
Business Wire
First American Financial Corporation (NYSE:
FAF), a premier provider of title, settlement and
risk solutions for real estate transactions, today announced the
pricing of a public offering of $450 million of its 5.450 percent
senior notes due 2034. The offering is expected to close on
September 30, 2024, subject to customary conditions.
The notes will be general senior unsecured obligations of the
company and will rank equally in right of payment with the
company’s existing and future senior unsecured indebtedness.
Interest will be paid semi-annually on March 30 and September 30,
beginning March 30, 2025. The company intends to use the net
proceeds from the sale of the notes for repayment at maturity of
the company’s 4.60% senior notes due 2024 and for general corporate
purposes, which may include, among other possible uses,
acquisitions, funding for working capital, repurchase of the
company’s capital stock and other capital expenditures. The company
may also use the net proceeds for temporary investments until it
needs them for general corporate purposes.
J.P. Morgan Securities LLC, Goldman Sachs & Co. LLC and PNC
Capital Markets LLC are acting as the joint book-running managers
for the offering. Copies of the prospectus supplement and
accompanying base prospectus for the offering may be obtained by
contacting J.P. Morgan Securities LLC, 383 Madison Avenue, New
York, New York 10179, Attention: Investment Grade Syndicate Desk,
Telephone: (212) 834-4533 (collect); by contacting Goldman Sachs
& Co. LLC, Attention: Prospectus Department, 200 West Street,
New York, New York 10282, telephone: 1-866-471-2526, facsimile:
212-902-9316 or by emailing prospectus-ny@ny.email.gs.com; or by
contacting PNC Capital Markets LLC at 225 Fifth Avenue, Three PNC
Plaza 10th Floor, Pittsburgh, PA 15222 or by calling (855)
881-0697. An electronic copy of the prospectus supplement and
accompanying base prospectus for the offering may also be obtained
at www.sec.gov.
The notes were offered and will be sold pursuant to an effective
shelf registration statement on Form S-3 previously filed with the
Securities and Exchange Commission, and only by means of a
prospectus supplement and accompanying base prospectus. This press
release does not constitute an offer to sell or a solicitation of
an offer to buy the securities described herein, nor shall there be
any sale of these securities in any state or jurisdiction in which
such an offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of any such
state or jurisdiction.
About First American
First American Financial Corporation (NYSE: FAF) is a
premier provider of title, settlement and risk solutions for real
estate transactions. First American also provides data products to
the title industry and other third parties; valuation products and
services; mortgage subservicing; home warranty products; banking,
trust and wealth management services; and other related products
and services.
Forward-Looking Statements
Certain statements made in this press release, including the
closing date of the offering and the use of net proceeds from such
offering, are forward-looking statements within the meaning of
Section 27A of the Securities Act of 1933, as amended, and Section
21E of the Securities Exchange Act of 1934, as amended. Risks and
uncertainties exist that may cause results to differ materially
from those set forth in these forward-looking statements. Factors
that could cause the anticipated results to differ from those
described in the forward-looking statements include, without
limitation: interest rate fluctuations; changes in conditions of
the real estate markets; volatility in the capital markets;
unfavorable economic conditions; and other factors described in the
company’s annual report on Form 10-K for the year ended December
31, 2023, quarterly report on Form 10-Q for the quarter ended March
31, 2024 and quarterly report on Form 10-Q for the quarter ended
June 30, 2024, each as filed with the Securities and Exchange
Commission. The forward-looking statements speak only as of the
date they are made. The company does not undertake to update
forward-looking statements to reflect circumstances or events that
occur after the date the forward-looking statements are made.
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version on businesswire.com: https://www.businesswire.com/news/home/20240923810819/en/
Media Contact: Marcus Ginnaty Corporate Communications
First American Financial Corporation 714-250-3298
Investor Contact: Craig Barberio Investor Relations First
American Financial Corporation 714-250-5214
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