Workflow
Senior Notes (2035 Notes
icon
Search documents
Fairfax Launches C$700 Million Senior Notes Offering
Globenewswire· 2025-08-12 01:03
Core Viewpoint - Fairfax Financial Holdings Limited intends to offer C$400 million in Senior Notes due 2035 and C$300 million in Senior Notes due 2055, with fixed interest rates of 4.45% and 5.10% respectively, to refinance existing obligations and pursue investment opportunities [1][2]. Group 1: Offering Details - The total offering consists of C$400 million in 2035 Notes priced at C$99.824 per C$100 principal amount and C$300 million in 2055 Notes priced at C$99.619 per C$100 principal amount [1]. - The Senior Notes will be offered through a syndicate of dealers led by National Bank Financial Inc., RBC Dominion Securities Inc., Scotia Capital Inc., and TD Securities Inc. [1]. - The offering is expected to close on or about August 14, 2025, subject to customary conditions [2]. Group 2: Use of Proceeds - The net proceeds from the offering will be used to refinance, repay, or redeem outstanding debt, equity, or other corporate obligations of Fairfax and its subsidiaries [2]. - The proceeds may also be used for potential acquisitions or investments, including minority interests in subsidiaries, and for general corporate purposes [2]. - Specific determinations regarding the debt or equity to be repaid or the acquisitions to be pursued have not yet been made [2]. Group 3: Regulatory and Access Information - The Senior Notes will be offered in all provinces and territories of Canada under Fairfax's base shelf prospectus dated October 11, 2023 [3]. - Access to the shelf prospectus supplement and base shelf prospectus will be provided in accordance with Canadian securities legislation [3][4]. - Interested parties can obtain copies of the prospectus documents from the listed financial institutions [4].
Fairfax Announces Pricing of Senior Notes Offering
Globenewswire· 2025-05-15 23:46
Core Viewpoint - Fairfax Financial Holdings Limited has announced a private offering of senior notes totaling US$900 million, with the intention to refinance existing obligations and pursue potential acquisitions or investments [1][2]. Group 1: Offering Details - The offering includes US$500 million of senior notes due in 2035 with a fixed interest rate of 5.750% and US$400 million of senior notes due in 2055 with a fixed interest rate of 6.500% [1]. - The notes will be issued at an issue price of 99.632% for the 2035 Notes and 99.725% for the 2055 Notes [1]. Group 2: Use of Proceeds - The net proceeds from the offering will be used to refinance, repay, or redeem outstanding debt, equity, or other corporate obligations, as well as to pursue potential acquisition or investment opportunities [2]. - Specific determinations regarding which obligations will be repaid or redeemed, and the timing or method of such actions, have not yet been made [2]. Group 3: Regulatory and Closing Information - The offering will be conducted as a private placement to qualified institutional buyers and certain non-U.S. persons, and the notes have not been registered under the U.S. Securities Act [4]. - The closing of the offering is expected on or about May 20, 2025, subject to customary closing conditions [3].