Fairfax Financial Holdings (TSE:FFH) has released an update.
Fairfax Financial Holdings Limited has launched a private offering of $600 million in senior notes due 2055 and an additional $150 million in 6% senior notes due 2033, both at specified issue prices. The proceeds from the offering are earmarked to redeem Allied World Assurance Company Holdings’ senior notes due 2025, with any surplus to be allocated for general corporate needs. The offerings, restricted to qualified institutional buyers and certain non-U.S. persons, are expected to close by June 24, 2024.
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