Fairfax announces pricing of senior notes offering
Fairfax Financial Holdings Limited (TSX: FFH and FFH.U) has announced the pricing of a senior notes offering, comprising US$500,000,000 of senior notes due 2035 (the “2035 Notes”) and US$400,000,000 of senior notes due 2055 (the “2055 Notes”). The 2035 Notes were priced at 99.632% of par and will carry a fixed interest rate of 5.750% per annum, while the 2055 Notes were priced at 99.725% of par and will pay a fixed rate of 6.500% per annum. The Notes are unsecured senior obligations of the company and are expected to close on or about May 20, 2025, subject to customary closing conditions.
The offering is being conducted through a private placement to qualified institutional buyers under Rule 144A of the U.S. Securities Act of 1933, as amended, and to non-U.S. persons in offshore transactions under Regulation S. The Notes have not been registered under the Securities Act and are not available for sale in the United States or Canada without registration or an applicable exemption.
Fairfax intends to use the net proceeds from the offering for a range of purposes, including the refinancing, repayment, or redemption of existing debt, equity, or other corporate obligations; the pursuit of potential acquisitions or investment opportunities; and general corporate purposes. The company has not yet specified which obligations will be repaid or which investments will be pursued, as these decisions will depend on market conditions.
This offering follows a similar C$650 million senior notes offering completed in February 2026, which included C$400 million of 4.40% Senior Notes due 2036 and C$250 million of 5.10% Senior Notes due 2055. These offerings reflect Fairfax’s ongoing strategy to manage its capital structure and support long-term financial flexibility.
As a holding company, Fairfax operates through its subsidiaries in the property and casualty insurance and reinsurance sectors, as well as associated investment management. The company continues to emphasize its commitment to prudent capital management and strategic financial planning.
