The Globe and Mail

Go to the Globe and Mail homepage

Jump to main navigationJump to main content

Press release from Marketwire

Fairfax Financial Holdings Limited Announces C$431,000,000 Bought Deal Financing

Wednesday, November 06, 2013

Fairfax Financial Holdings Limited Announces C$431,000,000 Bought Deal Financing

07:52 EST Wednesday, November 06, 2013

TORONTO, ONTARIO--(Marketwired - Nov. 6, 2013) -

NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES.

Fairfax Financial Holdings Limited ("Fairfax" or the "Company") (TSX:FFH)(TSX:FFH.U) has announced today that it has entered into an agreement with a syndicate of underwriters led by BMO Capital Markets and CIBC, under which the underwriters have agreed to buy on a bought deal basis 1,000,000 Subordinate Voting Shares (the "Subordinate Voting Shares"), at a price of C$431.00 per Common Share for gross proceeds of C$431,000,000 (the "Offering"). The offering is expected to close on November 15, 2013.

Fairfax intends to use the net proceeds of the offering to augment its cash position at the holding company and for general corporate purposes.

The Subordinate Voting Shares will be qualified for sale in Canada by way of a prospectus supplement to the Company's short form base shelf prospectus dated December 10, 2012, which will be filed in each of the provinces and territories of Canada.

The securities offered have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. 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 securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

About Fairfax

Fairfax is a financial services holding company which, through its subsidiaries, is engaged in property and casualty insurance and reinsurance and investment management.

FOR FURTHER INFORMATION PLEASE CONTACT:

Contact Information:
Fairfax Financial Holdings Limited
John Varnell
Vice President, Corporate Development
(416) 367-4941

Products
  • Globe Unlimited

    Digital all access pass across devices. subscribe

  • The Globe and Mail Newspaper

    Newspaper delivered to your doorstep. subscribe

  • Globe2Go

    The digital replica of our newspaper. subscribe

  • Globe eBooks

    A collection of articles by the Globe. subscribe

See all Globe Products

Advertise with us

GlobeLink.ca

Your number one partner for reaching Canada's Influential Achievers. learn more

The Globe at your Workplace
Our Company
Customer Service
Globe Recognition
Mobile Apps
NEWS APP
INVESTING APP
Other Sections