Fairfax files shelf prospectus in Canada, U.S.

Financial services giant Fairfax Financial Holdings (TSX, NYSE: FFH) says it will file a preliminary short form based shelf prospectus in Canada, and a shelf registration statement in the U.S.The filings will allow the company to offer debt, equity and securities in the two countries over a 25-month period for total value of US$750 million. The shelf registration statement is for an offer to exchange new 7.75% senior notes due 2012 for previously announced notes which were offered in conjunction with the offering of 8.75% notes of TIG Holdings due 2005.In terms of these and other notes released on April 8, the company says a total of US$200.4 million principal of old notes was tendered, for which the company will issue about US$156.8 million in new notes and US$57.4 in cash payments, plus interest. Settlement date is set for April 29, 2004 and the exchange offers expire April 26.