Fairfax Completes C$650 Million Senior Notes Offering

Executive Summary

• Fairfax Financial Holdings completed a $650 million CAD senior notes offering (C$400 M of 4.40% notes due 2036 and C$250 M of 5.10% notes due 2055).
• The proceeds will be used to refinance existing debt/equity, pursue acquisitions or investments, and for general corporate purposes.
• The offering was led by a syndicate of major Canadian banks and included several international dealer agents.

Key Details

• Notes Issued:
• C$400 M aggregate principal amount of 4.40% Senior Notes due 2036.
• Additional C$250 M aggregate principal amount of 5.10% Senior Notes due 2055 (bringing total outstanding of this series to C$550 M, including a prior C$300 M issuance).
• Syndicate Lead Bookrunners: BMO Nesbitt Burns Inc., CIBC World Markets Inc., RBC Dominion Securities Inc., Scotia Capital Inc.
• Additional Agents: 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., Mizuho Securities Canada Inc., Morgan Stanley Canada Limited.
• Use of Proceeds (as disclosed):
• Refinance, repay or redeem outstanding debt, equity or other corporate obligations of Fairfax and its subsidiaries.
• Pursue potential acquisition or investment opportunities, including minority interests in subsidiaries.
• General corporate purposes, potentially augmenting cash balances or increasing short‑term investments/marketable securities at the holding company level.
• Status of Allocation: At the time of release, Fairfax had not identified specific obligations to be repaid/redempted nor specific acquisition targets; allocations will depend on market conditions.
• Regulatory Notice: The press release is not an offer or solicitation in the United States and the securities are not registered under U.S. law.

Notable Quotes

(No direct quotes were provided in the release.)