Fairfax Financial Holdings Limited announces that it has determined the fixed dividend rate on its Cumulative 5-Year Rate Reset Preferred Shares, Series E (“Series E Shares”) (TSX: FFH.PR.E) for the five years commencing April 1, 2015 and ending March 31, 2020. The fixed quarterly dividends on the Series E Shares during that period will be paid at an annual rate of 2.91% (Cdn. $0.18188 per share per quarter).
Fairfax Financial Holdings Limited announces an increase in the size of its offering of Senior Notes due 2025 from $300 million to $350 million in aggregate principal amount, to be priced at $99.114 per $100 principal amount of Senior Notes (the “Notes Offering”). The Senior Notes are being offered through a syndicate of dealers led by BMO Capital Markets, RBC Capital Markets and Scotiabank.
Fairfax Financial Holdings Limited (TSX:FFH)(TSX:FFH.U) announces that it will issue C$300 million in aggregate principal amount of Senior Notes due 2025 on a bought deal basis to a syndicate of underwriters led by BMO Capital Markets, RBC Capital Markets and Scotiabank (the “Notes Offering”).
Fairfax Financial Holdings Limited announces that it will issue in Canada 8 million Preferred Shares, Series M at a price of C$25.00 per share, for aggregate gross proceeds of C$200 million, on a bought deal basis to a syndicate of Canadian underwriters led by BMO Capital Markets, RBC Capital Markets and Scotia Capital Inc. (the “Preferred Share Offering”).
Fairfax Financial Holdings Limited has announced today that it has entered into an agreement with a syndicate of underwriters led by BMO Capital Markets, 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$650.00 per Subordinate Voting Share for gross proceeds of C$650 million (the “Offering”). The Offering is expected to close on March 3, 2015.
Fairfax Financial Holdings Limited announced today that it has reached an agreement with Brit PLC (“Brit” or the “company”) to acquire all of the outstanding shares of Brit (the “Brit Shares”). Brit is a market-leading global Lloyd’s of London specialty insurer and reinsurer.
Fairfax Financial Holdings Limited announces fiscal year 2014 net earnings of $1,633.2 million ($73.01 per diluted share after payment of preferred share dividends) compared to a fiscal year 2013 net loss of $573.4 million ($31.15 net loss per diluted share after payment of preferred share dividends), reflecting net gains on its investment portfolio and improved underwriting results.
Fairfax Financial Holdings Limited announced today that it has entered into an agreement with QBE Management (Ireland) Limited (“QBE”) and its Ukrainian partner to acquire QBE’s insurance operations in Ukraine. The transaction is subject to customary closing conditions, including various regulatory approvals, and is expected to close by the second quarter of 2015.
Fairfax Financial Holdings Limited and Fairfax India Holdings Corporation announced today that the Company has completed its initial public offering of 50,000,000 subordinate voting shares (“Subordinate Voting Shares”) at a price of US$10.00 per share for gross proceeds of US$500 million. The Subordinate Voting Shares will commence trading today on the Toronto Stock Exchange (the “TSX”) under the symbol “FIH”.
Fairfax Financial Holdings Limited will hold a conference call at 8:30 a.m. Eastern Time on Friday, February 13, 2015 to discuss its 2014 year-end results which will be announced after the close of markets on Thursday, February 12 and will be available at that time on its website www.fairfax.ca.