Fairfax Announces Pricing of Senior Notes Offering [Financial Post (Toronto, Ontario, Canada)]
Atlas Corp. Common Shares (ATCO)
Company Research
Source: Financial Post
it has priced a private offering of US$750,000,000 of Fairfax’s Senior Notes due 2032 (the “Notes”) at an issue price of 99.856%. The Notes will be unsecured obligations of Fairfax and will pay a fixed rate of interest of 5.625% per annum. Fairfax also intends to enter into a registration rights agreement in connection with the offering. Fairfax intends to use substantially all of the net proceeds of this offering to purchase a portion of the non-controlling interests in Allied World Assurance Company Holdings, Ltd (“Allied World”), and use any remainder for general corporate purposes. The offering is expected to close on or about August 16, 2022, subject to the satisfaction of customary conditions. The offering is being made solely by means of a private placement either to qualified institutional buyers pursuant to Rule 144A under the U.S. Securities Act of 1933, as amended (the “Securities Act”), or to certain non-U.S. persons in offshore transactions pursuant to Regulation S unde
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