On November 19, 2024, Fairfax Financial Holdings Limited announced a CAD 700 million senior notes offering, set to close on November 22, 2024. The issuance includes CAD 450 million of 4.73% notes due 2034 and CAD 250 million of 5.23% notes due 2054, with expected net proceeds of CAD 696.1 million.

Proceeds are planned for the redemption of preferred shares and general corporate purposes. The offering is co-led by BMO Nesbitt Burns, CIBC World Markets, RBC Dominion Securities, and Scotia Capital, with additional participation from Merrill Lynch Canada, National Bank Financial, TD Securities, Citigroup Global Markets Canada, Desjardins Securities, J.P. Morgan Securities Canada, and Mizuho Securities Canada. Legal counsel includes Torys LLP for Fairfax and Osler, Hoskin & Harcourt LLP for the agents.

The notes are rated BBB+ by S&P, Baa2 by Moody’s, and A (low) by DBRS.