Fairfax Announces Extension of Exchange Offer for Its 4.625% Senior Notes Due 2030
October 21 2020 - 7:58AM
Fairfax Financial Holdings Limited (“Fairfax”) (TSX: FFH and FFH.U)
announces that it has extended its offer (the “Exchange Offer”) to
exchange up to US$650,000,000 in aggregate principal amount of its
4.625% Senior Notes due 2030 (the “Old Notes”) for an equivalent
amount of its 4.625% Senior Notes due 2030 registered under the
United States Securities Act of 1933, as amended (the “Exchange
Notes”). US$650,000,000 in aggregate principal amount of the Old
Notes were previously issued and sold by Fairfax in a private
offering in April 2020.
The Exchange Offer, previously scheduled to
expire at 5:00 p.m., New York City time, on Tuesday, October 20,
2020, will now expire at 5:00 p.m., New York City time, on Friday,
October 23, 2020, unless further extended. An aggregate principal
amount of US$639,460,000, or 98.3785%, of the outstanding Old Notes
was tendered in the Exchange Offer as of 5:00 p.m. on Tuesday,
October 20, 2020.
Fairfax is extending the Exchange Offer to
provide holders of any remaining Old Notes additional time to
exchange their notes for Exchange Notes. Holders of the Old Notes
that have already validly tendered and not validly withdrawn their
Old Notes in the Exchange Offer do not need to re-tender their Old
Notes or take any other action in response to the extension of the
Exchange Offer.
Copies of the Exchange Offer prospectus and
other related documents may be obtained from The Bank of New York
Mellon, which is serving as the exchange agent for the Exchange
Offer. The Bank of New York Mellon’s contact information is as
follows:
BY HAND, MAIL OR
OVERNIGHT COURIER: The Bank of New York Mellon Corporate Trust –
Reorg 111 Sanders Creek Parkway East Syracuse, NY 13057 |
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For
Information Call: (315) 414-3034 |
BY
FACSIMILE: (732) 667-9408 (for eligible institutions only)
Attention: Tiffany Castor |
Confirm
Receipt of Facsimile by: Telephone: (315) 414-3034 |
This press release is for informational purposes
only and is neither an offer to buy nor a solicitation of an offer
to sell any Old Notes or Exchange Notes. The Exchange Offer is
being made only pursuant to the Exchange Offer prospectus, which
was distributed to holders of the Old Notes and has been filed with
the United States Securities and Exchange Commission as part of
Fairfax’s Registration Statement on Form F-10 (File No.
333-248597).
Fairfax is a holding company which, through its
subsidiaries, is engaged in property and casualty insurance and
reinsurance and the associated investment management.
For further information contact: John Varnell,
Vice President, Corporate Development at (416) 367-4941
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