TORONTO, Nov. 01, 2021 (GLOBE NEWSWIRE) -- 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$600,000,000 in aggregate principal amount of its 3.375% Senior Notes due 2031 (the “Old Notes”) for an equivalent amount of its 3.375% Senior Notes due 2031 registered under the United States Securities Act of 1933, as amended (the “Exchange Notes”). US$600,000,000 in aggregate principal amount of the Old Notes were previously issued and sold by Fairfax in a private offering in March 2021.
The Exchange Offer, previously scheduled to expire at 5:00 p.m., New York City time, on Friday, October 29, 2021, will now expire at 5:00 p.m., New York City time, on Friday, November 5, 2021, unless further extended. An aggregate principal amount of US$593,910,000.00, or 98.9850%, of the outstanding Old Notes was tendered in the Exchange Offer as of 5:00 p.m. on Friday, October 29, 2021.
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 Holders of the Old Notes that have already validly tendered and not validly withdrawn their Old Notes in the Exchange Offer do not need to re-tender their Old Notes or take any other action in response to the extension of the Exchange Offer.
https://www.globenewswire.com/news-release/2021/11/01/2324308/0/en/Fairfax-Announces-Extension-of-Exchange-Offer-for-Its-3-375-Senior-Notes-Due-2031.html