JACKSONVILLE, Fla.,
May 5 /PRNewswire-FirstCall/ --
Fidelity National Financial, Inc. (NYSE: FNF), a leading provider
of title insurance, mortgage services, specialty insurance, claims
management services and information services, today announced that
it has closed the issuance of $300
million aggregate principal amount of its 6.60% Notes Due
May 15, 2017, through joint
book-running managers Banc of America Securities LLC and J.P.
Morgan Securities Inc. The notes were priced at 99.897 of
their principal amount to yield 6.618% per annum. The notes
will pay interest semi-annually on the 15th of May and November,
beginning November 15, 2010, and
mature on May 15, 2017.
Barclays Capital Inc., U.S. Bancorp Investments, Inc. and
Wells Fargo Securities, LLC acted as co-managers.
The notes are rated BBB- by Standard and Poor's ("S&P") and
Baa3 by Moody's Investors Service ("Moody's"). The S&P
rating carries a negative outlook, while the Moody's rating carries
a stable outlook. The net proceeds will be used to repay
outstanding borrowings under FNF's revolving credit facility.
The notes are being offered pursuant to a prospectus supplement
and accompanying prospectus which can be obtained from Banc of
America Securities LLC at 800-294-1322 or
dg.prospectus_distribution@bofasecurities.com, or J.P. Morgan
Securities Inc at 212-834-4533. This press release shall not
constitute an offer to sell or the solicitation of an offer to buy
nor shall there be any sale of the notes in any jurisdiction in
which such offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of any such
jurisdiction.
Fidelity National Financial, Inc. (NYSE: FNF), is a leading
provider of title insurance, mortgage services, specialty
insurance, claims management services and information services.
FNF is the nation's largest title insurance company through
its title insurance underwriters - Fidelity National Title, Chicago
Title, Commonwealth Land Title, Lawyers Title, Ticor Title,
Security Union Title and Alamo Title - that collectively issue more
title insurance policies than any other title company in
the United States. FNF also
provides flood insurance, personal lines insurance and home
warranty insurance through its specialty insurance business.
FNF also is a leading provider of outsourced claims
management services to large corporate and public sector entities
through its minority-owned subsidiary, Sedgwick CMS. FNF is
also a leading information services company in the human resource,
retail and transportation markets through another minority-owned
subsidiary, Ceridian Corporation. More information about FNF
can be found at www.fnf.com.
This press release contains forward-looking statements that
involve a number of risks and uncertainties. Statements that are
not historical facts, including statements about our beliefs and
expectations, are forward-looking statements. Forward-looking
statements are based on management's beliefs, as well as
assumptions made by, and information currently available to,
management. Because such statements are based on expectations as to
future economic performance and are not statements of fact, actual
results may differ materially from those projected. We undertake no
obligation to update any forward-looking statements, whether as a
result of new information, future events or otherwise. The
risks and uncertainties which forward-looking statements are
subject to include, but are not limited to: changes in general
economic, business and political conditions, including changes in
the financial markets; adverse changes in the level of real estate
activity, which may be caused by, among other things, high or
increasing interest rates, a limited supply of mortgage funding or
a weak U. S. economy; our potential inability to find suitable
acquisition candidates, acquisitions in lines of business that will
not necessarily be limited to our traditional areas of focus, or
difficulties in integrating acquisitions; our dependence on
operating subsidiaries as a source of cash flow; significant
competition that our operating subsidiaries face; compliance with
extensive government regulation of our operating subsidiaries; and
other risks detailed in the "Statement Regarding Forward-Looking
Information," "Risk Factors" and other sections of the Company's
Form 10-K and other filings with the Securities and Exchange
Commission.
SOURCE Fidelity National Financial, Inc.