Fairfax Adds AWAC as Co-Obligor to 2055 Senior Notes
Ticker: FRFFF · Form: 6-K · Filed: Jul 19, 2024 · CIK: 915191
| Field | Detail |
|---|---|
| Company | Fairfax Financial Holdings LTD/ Can (FRFFF) |
| Form Type | 6-K |
| Filed Date | Jul 19, 2024 |
| Risk Level | low |
| Pages | 2 |
| Reading Time | 2 min |
| Key Dollar Amounts | $600 million |
| Sentiment | neutral |
Sentiment: neutral
Topics: debt, co-obligor, filing-update
TL;DR
Fairfax just added AWAC to its 6.100% Senior Notes due 2055. Bigger backing for bondholders.
AI Summary
On July 19, 2024, Fairfax Financial Holdings Limited added Allied World Assurance Company Holdings, Ltd (AWAC) as a co-obligor to its 6.100% Senior Notes due 2055. AWAC is an exempted company incorporated in Bermuda.
Why It Matters
This action may strengthen the credit profile of the senior notes by adding another entity's backing, potentially impacting investor confidence and the notes' market value.
Risk Assessment
Risk Level: low — The filing is a routine disclosure of adding a co-obligor to existing debt, which is generally a neutral or positive event for bondholders.
Key Numbers
- 6.100% — Senior Notes Interest Rate (This is the coupon rate on the notes that now have an additional co-obligor.)
Key Players & Entities
- Fairfax Financial Holdings Limited (company) — Registrant and issuer of notes
- Allied World Assurance Company Holdings, Ltd (company) — Newly added co-obligor
- 6.100% Senior Notes due 2055 (dollar_amount) — Debt instrument
FAQ
What is the specific date this co-obligor addition was made?
The co-obligor was added on July 19, 2024.
Which specific debt instrument is affected by this change?
The 6.100% Senior Notes due 2055 are affected.
What is the legal structure of the new co-obligor, AWAC?
AWAC is an exempted company limited by shares incorporated under the laws of Bermuda.
What is the filing form used for this disclosure?
This information is contained in a Form 6-K report.
What is the principal executive office address of Fairfax Financial Holdings Limited?
The principal executive offices are located at 95 Wellington Street West Suite 800, Toronto, Ontario, Canada M5J 2N7.
Filing Stats: 567 words · 2 min read · ~2 pages · Grade level 16.1 · Accepted 2024-07-19 16:16:36
Key Financial Figures
- $600 million — e “ 2055 Notes ”), of which $600 million aggregate principal amount was issued o
Filing Documents
- tm2419816d1_6k.htm (6-K) — 14KB
- tm2419816d1_ex99-1.htm (EX-99.1) — 61KB
- 0001104659-24-081175.txt ( ) — 76KB
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. FAIRFAX FINANCIAL HOLDINGS LIMITED Date: July 19, 2024 By: /s/ Derek Bulas Name: Derek Bulas Title: Vice President, Chief Legal Officer and Corporate Secretary