Fairfax completes US$1 billion senior notes offering
Torys acted as counsel to Fairfax with a team that included Chris Bornhorst and Masanari Katsumi (corporate/U.S. securities), Robbie Leibel, Jon McDonald and Sarah Rimer (Canadian securities).
On March 22, 2024, Fairfax Financial Holdings Limited (“Fairfax”) completed its previously announced offering of US$1,000,000,000 in aggregate principal amount of 6.350% senior notes due 2054.
The offering was made solely by means of a private placement either to qualified institutional buyers pursuant to Rule 144A under the U.S. Securities Act of 1933, as amended, or to certain non-U.S. persons in offshore transactions pursuant to Regulation S under the Securities Act.
In connection with the closing of the offering, Fairfax entered into a customary registration rights agreement.
Fairfax intends to use the net proceeds from the offering for general corporate purposes.
Further information can be found on Globe Newswire’s website.
Fairfax is a holding company which, through its subsidiaries, is primarily engaged in property and casualty insurance and reinsurance and the associated investment management.