TORONTO, June 24, 2024 (GLOBE NEWSWIRE) -- Fairfax Financial Holdings Limited ("Fairfax") (TSX:FFH) has completed its previously announced offering of US$600,000,000 in aggregate principal amount of 6.100% senior notes due 2055 and an additional US$150,000,000 of its 6.000% senior notes due 2033 (collectively, the "Notes"). Together with the previously issued US$600,000,000 aggregate principal amount of 6.000% senior notes due 2033, there is US$750,000,000 aggregate principal amount of notes of this series outstanding. In connection with the closing of the offering, Fairfax entered into a customary registration rights agreement. Fairfax intends to use the net proceeds of this offering to redeem all of the outstanding US$500,000,000 aggregate principal amount of 4.35% Senior Notes due 2025 (the "Allied World Notes") of its subsidiary, Allied World Assurance Company Holdings I, Ltd ("Allied World"), and use any remainder for general corporate purposes. Fairfax has delivered a notice of redemption to Allied World's trustee in respect of the full redemption of the Allied World Notes. The Allied World Notes will be redeemed on July 24, 2024 at a redemption price based on the value of the remaining scheduled payments on the Allied World Notes to be calculated on July 19, 2024, plus accrued and unpaid interest, if any. There is US$500,000,000 aggregate principal amount of Allied World Notes currently outstanding. The offering was made solely by means of a private placement either to qualified institutional buyers pursuant to Rule 144A under the U.S. Securities Act of 1933, as amended (the "Securities Act"), or to certain non-U.S. persons in offshore transactions pursuant to Regulation S under the Securities Act. The Notes have not been registered under the Securities Act and the Notes may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the Securities Act. The Notes have not been and will not be qualified for sale under the securities laws of any province or territory of Canada and may not be offered or sold directly or indirectly in Canada or to or for the benefit of any resident of Canada, except pursuant to applicable prospectus exemptions. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the Notes in any jurisdiction in which such offer, or solicitation or sale would be unlawful. Any offers of the Notes have been made only by ...