06:41 AM EDT, 06/19/2024 (MT Newswires) -- Fairfax Financial Holdings ( FRFHF ) late on Tuesday priced a US$600 million ($822.7 million) private offering of senior notes due 2055 at 99.585% and a private offering of an additional US$150 million of its 6.000% senior notes due Dec. 7, 2033 at 102.697%, plus accrued interest.

Fairfax currently has outstanding US$600 million of its 6.000% senior notes due 2033. The additional 2033 notes will have the same terms as the original 2033 notes, except for the issue date, offering price, and the first interest payment date, and will form part of the same series as the original 2033 notes.

Fairfax plans to use the funds to redeem all of the outstanding US$500 million of Allied World Assurance Co. Holdings' outstanding 4.35% senior notes due 2025 and use any remainder for general corporate purposes.

The offering is expected to close by June 24.