Fairfax greenshoe exercised, raising convertibles $300 million

By Melissa Kory

Cleveland, Oct. 4 - Fairfax Financial Holding Ltd. announced underwriters of its recent offering of preferred shares, series I, exercised the $300 million over-allotment option in full.

The series I shares were sold through a syndicate of Canadian underwriters led by BMO Capital Markets, CIBC World Markets Inc., RBC Dominion Securities Inc. and Scotia Capital Inc., and that also included TD Securities Inc., National Bank Financial Inc., Cormark Securities Inc., GMP Securities LP, Canaccord Genuity Corp., Desjardins Securities Inc. and HSBC Securities (Canada) Inc.

Proceeds, approximately $291 million, will be used for general corporate purposes, including particularly investing in cash, short-term investments and marketable securities and repurchasing or repaying debt.

Fairfax is a financial services holding company, based in Toronto, Ontario.

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