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Fairfax Financial prices senior note offering

Fairfax Financial Holdings Ltd. has priced a private offering of €600 million of 2.750% senior unsecured notes due 2028 at an issue price of 98.791%.

Fairfax Financial intends to use the net proceeds to refinance or repay outstanding debt or other corporate obligations of itself and its subsidiaries and for general corporate purposes. This may include the redemption or repurchase of certain of the company's previously issued senior unsecured notes. 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 and/or for other general corporate purposes.

The notes are expected to be offered primarily in Europe to nonretail investors. The notes are not for sale in Canada and will be sold through a private placement in the U.S.

The offering is expected to close on or about March 29.