Fairfax Financial to issue C$850M senior notes

Fairfax Financial Holdings Ltd. will issue C$850 million of 3.95% senior notes due 2031 in a public offering.

Fairfax plans to use the net proceeds to redeem C$450 million of 5.84% senior notes due 2022 and C$400 million of 4.50% senior notes due 2023. The rest of the funds will be used to refinance or repay other outstanding debt or corporate obligations of Fairfax and its subsidiaries, as well as for general corporate purposes.

The notes will be offered through a syndicate of underwriters led by Scotiabank, BMO Capital Markets and RBC Capital Markets as joint bookrunners.