Fairfax completes C$700,000,000 senior notes offering
On November 22, 2024, Fairfax Financial Holdings Limited (“Fairfax”) completed its previously announced offering of
- C$450 million in aggregate principal amount of 4.73% senior notes due 2034; and
- C$250 million in aggregate principal amount of 5.23% senior notes due 2054.
The notes were offered through a syndicate of dealers led by BMO Nesbitt Burns Inc., CIBC World Markets Inc., RBC Dominion Securities Inc. and Scotia Capital Inc., as joint bookrunners, and included Merrill Lynch Canada Inc., National Bank Financial Inc., TD Securities Inc., Citigroup Global Markets Canada Inc., Desjardins Securities Inc., J.P. Morgan Securities Canada Inc., and Mizuho Securities Canada Inc., as agents.
Fairfax intends to use the net proceeds of the offering to redeem, in whole or in part, one or more series of its outstanding cumulative 5-year rate reset preferred shares or cumulative floating rate preferred shares. Any proceeds not used to redeem preferred shares will be used 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.