05:19 PM EDT, 06/24/2024 (MT Newswires) -- Fairfax Financial Holdings ( FRFHF ) on Monday said it completed the previously announced offering of US$600 million in aggregate principal amount of 6.1% senior notes due 2055 and an additional US$150 million of its 6% senior notes due 2033.

Fairfax intends to use the net proceeds of this offering to redeem all of the outstanding US$500 million aggregate principal amount of 4.35% Senior Notes due 2025 of its subsidiary, Allied World Assurance Company Holdings I, 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 company's shares closed up C$31.17 to $1,525.05 on the Toronto Stock Exchange.