Fairfax Completes $250 Million Re-Opening of 5.84% Senior

Fairfax Completes $250 Million Re-Opening of 5.84% Senior Notes Due
TORONTO, ONTARIO -- (Marketwire) -- 01/21/13 --  
(Note: All dollar amounts in this press release are expressed in
Canadian dollars.) 
Fairfax Financial Holdings Limited (TSX:FFH)(TSX:FFH.U) has completed
its previously announced offering of $250 million in aggregate
principal amount of a re-opening of 5.84% Senior Notes due 2022 at a
price of $103.854 per $100 principal amount, plus accrued interest,
for an effective yield to maturity of 5.326%. The original issuance
of the Senior Notes was completed in October 2012. An aggregate of
$450 million of such Senior Notes remains outstanding after giving
effect to this offering. Net proceeds of the issue, after commissions
and expenses of the issue, are approximately $259 million. 
The Senior Notes were offered through a syndicate of dealers led by
BMO Capital Markets, Bank of America Merrill Lynch, CIBC, RBC Capital
Markets and Scotiabank Global Banking and Markets, that included TD
Securities, Citi Global Markets Canada, Cormark Securities, Canaccord
Genuity, GMP Securities, HSBC Securities and National Bank Financial.
The Senior Notes are unsecured obligations of Fairfax and pay a fixed
rate of interest of 5.84% per annum. Fairfax intends to use the net
proceeds of the offering to augment its cash position, to increase
short term investments and marketable securities held at the holding
company level, to retire outstanding debt and other corporate
obligations from time to time, and for general corporate purposes.  
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 these
securities in any jurisdiction in which such offer, solicitation or
sale would be unlawful prior to registration or qualification under
the securities laws of any such jurisdiction. This press release is
not an offer of securities for sale in the United States, and the
securities may not be offered or sold in the United States absent
registration or an exemption from registration. The securities have
not been and will not be registered under the United States
Securities Act of 1933.  
Fairfax is a financial services holding company which, through its
subsidiaries, is engaged in property and casualty insurance and
reinsurance and investment management. 
Fairfax Financial Holdings Limited
John Varnell
Vice President, Corporate Development
(416) 367-4941 
Media Contact
Fairfax Financial Holdings Limited
Paul Rivett
Vice President, Operations
(416) 367-4941
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