- Fairfax Monetary (TSX:FFH:CA) On Tuesday, the market beforehand said that it had priced the non-public placement of US$600 million of senior notes due in 2055 at 99.585%, and issued an extra US$150 million in non-public placement at a difficulty value of 6.000% of the senior notes due on December 7, 2033. Precedence Notes. The difficulty value is 102.697%, plus accrued curiosity.
- Fairfax Monetary (FFH:CA) famous that the brand new notes will probably be unsecured obligations of Fairfax and pays a set rate of interest of 6.100% each year.
- The Further 2033 Notes can have the identical phrases because the Authentic 2033 Notes and will probably be a part of the identical sequence because the Authentic 2033 Notes, apart from the issuance date, issuance value and first curiosity fee date.
- Fairfax intends to make use of the online proceeds from the providing to redeem $500 million in combination principal quantity excellent of Allied World Assurance Firm Holdings’ excellent 4.35% senior notes due 2025 and to make use of the rest for normal company functions.
- Fairfax additionally intends to enter right into a registration rights settlement in reference to the notice providing.
- The providing is anticipated to shut on or about June 24, 2024.
- Supply: press launch
Fairfax reports senior notes offering pricing (Pink Current Info: FRFHF)
By Viral News
