Fairfax Completes $250 Million Re-Opening of 5.84% Senior Notes Due 2022
21 Gennaio 2013 - 3:12PM
Marketwired
(Note: All dollar amounts in this press release are expressed in
Canadian dollars.)
Fairfax Financial Holdings Limited (TSX:FFH)(TSX:FFH.U) has
completed its previously announced offering of $250 million in
aggregate principal amount of a re-opening of 5.84% Senior Notes
due 2022 at a price of $103.854 per $100 principal amount, plus
accrued interest, for an effective yield to maturity of 5.326%. The
original issuance of the Senior Notes was completed in October
2012. An aggregate of $450 million of such Senior Notes remains
outstanding after giving effect to this offering. Net proceeds of
the issue, after commissions and expenses of the issue, are
approximately $259 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
included 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 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.
Contacts: 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
Grafico Azioni Fairfax Financial (TSX:FFH.U)
Storico
Da Dic 2024 a Gen 2025
Grafico Azioni Fairfax Financial (TSX:FFH.U)
Storico
Da Gen 2024 a Gen 2025
