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Fairfax Financial completes €600M senior note offering

Fairfax Financial Holdings Ltd. has completed its previously announced offering of €600 million of 2.750% senior unsecured notes due 2028.

Fairfax intends to use C$298.4 million of the net proceeds to redeem in full the C$267.3 million outstanding principal amount of its 7.25% senior notes due June 22, 2020, plus accrued and unpaid interest thereon and the applicable premium. The remainder will be used to refinance or repay other outstanding debt or other corporate obligations of Fairfax and its subsidiaries and for general corporate purposes. The company will use any proceeds not used to refinance or repay debt or other corporate obligations to increase its cash position, to increase short-term investments and marketable securities held at the holding company level.