TSX:FFHInsurance
How Fairfax’s New US$750 Million 2056 Senior Notes Issue At Fairfax Financial Holdings (TSX:FFH) Has Changed Its Investment Story
Earlier this month, Fairfax Financial Holdings completed a private offering of US$750,000,000 in unsecured senior notes due 2056, carrying a fixed 6.200% coupon and issued at 100% of face value, with proceeds earmarked for general corporate purposes.
This long-dated bond issue, paired with an “a-” long-term issue credit rating and stable outlook from AM Best, reshapes Fairfax’s funding mix and long-term interest cost profile.
We’ll now examine how this new US$750,000,000, 30-year senior note...