FFH.PR.G Settles

This should have been posted yesterday, July 28. Sorry!

Fairfax Financial Holdings Ltd. has announced that it:

has completed its previously announced public offering of Preferred Shares, Series G (the “Series G Shares”) in Canada. As a result of the underwriters’ exercising in full their option to purchase an additional 2,000,000 Series G Shares, Fairfax has issued 10,000,000 Series G Shares for gross proceeds of $250 million. Net proceeds of the issue, after commissions and expenses, are approximately $242 million.

Fairfax intends to use the net proceeds of the offering to augment its cash position, to increase short term investments and marketable securities held at the holding company level, to retire outstanding debt and other corporate obligations from time to time, and for general corporate purposes.

The Series G Shares were sold through a syndicate of Canadian underwriters led by BMO Capital Markets, CIBC, RBC Capital Markets and Scotia Capital, and that also included TD Securities, National Bank Financial, Cormark Securities, GMP Securities, Canaccord Genuity, Desjardins Securities and HSBC Securities (Canada).

FFH.PR.G is a FixedReset, 5.00%+256, announced July 20.

Vital statistics are:

Maturity Type : Limit Maturity
Maturity Date : 2040-07-28
Maturity Price : 24.80
Evaluated at bid price : 24.85
Bid-YTW : 5.05 %

FFH.PR.G will be tracked by HIMIPref™, but is relegated to the Scraps index on credit concerns.

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