First American Financial Corporation Prices Senior Notes Offering
First American Financial (NYSE: FAF) has announced the pricing of a $450 million public offering of 5.450% senior notes due 2034. The offering is expected to close on September 30, 2024, subject to customary conditions. The notes will be general senior unsecured obligations of the company, ranking equally with existing and future senior unsecured indebtedness.
Interest will be paid semi-annually on March 30 and September 30, beginning March 30, 2025. The company plans to use the net proceeds to repay its 4.60% senior notes due 2024 and for general corporate purposes, including potential acquisitions, working capital funding, stock repurchases, and capital expenditures.
J.P. Morgan Securities , Goldman Sachs & Co. , and PNC Capital Markets are acting as joint book-running managers for the offering. The notes are being offered through an effective shelf registration statement on Form S-3 filed with the Securities and Exchange Commission.
First American Financial (NYSE: FAF) ha annunciato il prezzo di un offerta pubblica di 450 milioni di dollari di note senior al 5.450% in scadenza nel 2034. Si prevede che l'offerta si concluda il 30 settembre 2024, soggetta a condizioni consuete. Le note saranno obbligazioni senior non garantite generali della società, che si posizionano allo stesso livello del debito senior non garantito esistente e futuro.
Gli interessi saranno pagati semestralmente il 30 marzo e il 30 settembre, a partire dal 30 marzo 2025. La società prevede di utilizzare i proventi netti per rimborsare le note senior al 4.60% in scadenza nel 2024 e per scopi aziendali generali, incluse acquisizioni potenziali, finanziamento del capitale circolante, riacquisto di azioni e spese in conto capitale.
J.P. Morgan Securities, Goldman Sachs & Co., e PNC Capital Markets agiranno come co-manager della registrazione per l'offerta. Le note sono offerte attraverso una dichiarazione di registrazione del shelf efficace in base al modulo S-3 depositata presso la Securities and Exchange Commission.
First American Financial (NYSE: FAF) ha anunciado el precio de una oferta pública de 450 millones de dólares de notas senior con un interés del 5.450% con vencimiento en 2034. Se espera que la oferta cierre el 30 de septiembre de 2024, sujeta a condiciones habituales. Las notas serán obligaciones generales senior no garantizadas de la empresa, clasificándose igual que la deuda senior no garantizada existente y futura.
Los intereses se pagarán semestralmente el 30 de marzo y el 30 de septiembre, comenzando el 30 de marzo de 2025. La empresa planea utilizar los ingresos netos para pagar sus notas senior del 4.60% con vencimiento en 2024 y para fines corporativos generales, incluyendo adquisiciones potenciales, financiamiento de capital de trabajo, recompra de acciones y gastos de capital.
J.P. Morgan Securities, Goldman Sachs & Co., y PNC Capital Markets actuarán como co-gestores de la oferta. Las notas se ofrecen a través de una declaración de registro de estantería efectiva en el formulario S-3 presentada ante la Securities and Exchange Commission.
퍼스트 아메리칸 파이낸셜(NYSE: FAF)은 2034년에 만기가 도래하는 5.450%의 선순위 채권 4억 5천만 달러 공모 가격을 발표했습니다. 이번 공모는 2024년 9월 30일에 마감될 것으로 예상되며, 일반적인 조건에 따릅니다. 이 채권들은 회사의 일반적인 비지급 선순위 채무로, 기존 및 미래의 비지급 선순위 채무와 동등한 순위를 가집니다.
이자는 2025년 3월 30일부터 시작하여 매년 3월 30일과 9월 30일에 반기별로 지급됩니다. 회사는 순수익을 사용하여 2024년 만기 4.60%의 선순위 채무를 상환하고, 인수 가능성, 운영 자본 조달, 자사 주식 매입 및 자본 지출을 포함한 일반 기업 목적에 사용할 계획입니다.
J.P. 모건 증권, 골드만 삭스 & 코., PNC 캐피탈 마켓이 공동 북런ning 매니저로 참여하고 있습니다. 이 채권은 증권 거래 위원회에 제출된 S-3 양식의 유효한 선반 등록 성명을 통해 제공됩니다.
First American Financial (NYSE: FAF) a annoncé le prix d'une offre publique de 450 millions de dollars d'obligations senior à 5,450% échues en 2034. La clôture de l'offre est prévue pour le 30 septembre 2024, sous réserve de conditions habituelles. Les obligations seront des engagements généraux non garantis de la société, se classant au même niveau que les dettes seniors non garanties existantes et futures.
Les intérêts seront payés semestriellement le 30 mars et le 30 septembre, à compter du 30 mars 2025. La société prévoit d'utiliser les produits nets pour rembourser ses obligations senior à 4,60% échues en 2024 et à des fins générales d'entreprise, y compris d'éventuelles acquisitions, un financement du fonds de roulement, des rachats d'actions et des dépenses d'investissement.
J.P. Morgan Securities, Goldman Sachs & Co., et PNC Capital Markets agissent en tant que co-managers de l'offre. Les obligations sont proposées par le biais d'une déclaration d'enregistrement de shelf effective sur le formulaire S-3 déposée auprès de la Securities and Exchange Commission.
First American Financial (NYSE: FAF) hat den Preis für ein öffentliche Angebot über 450 Millionen US-Dollar an 5,450% Senior-Anleihen mit Fälligkeit 2034 bekannt gegeben. Es wird erwartet, dass das Angebot am 30. September 2024 abgeschlossen wird, vorbehaltlich üblicher Bedingungen. Die Anleihen werden allgemeine unbesicherte Senior-Verbindlichkeiten des Unternehmens sein, die gleichrangig mit bestehenden und zukünftigen unbesicherten Schulden sind.
Zinsen werden halbjährlich am 30. März und 30. September gezahlt, beginnend am 30. März 2025. Das Unternehmen plant, die Nettoerlöse zur Rückzahlung seiner 4,60% Senior-Anleihen mit Fälligkeit 2024 und für allgemeine Unternehmenszwecke zu verwenden, einschließlich potenzieller Akquisitionen, Finanzierung des Betriebskapitals, Aktienrückkäufe und Investitionsausgaben.
J.P. Morgan Securities, Goldman Sachs & Co. und PNC Capital Markets fungieren als gemeinsame Buchmacher für das Angebot. Die Anleihen werden über eine wirksame Shelf-Registrierungserklärung auf Formular S-3, die bei der Securities and Exchange Commission eingereicht wurde, angeboten.
- None.
- None.
The notes will be general senior unsecured obligations of the company and will rank equally in right of payment with the company’s existing and future senior unsecured indebtedness. Interest will be paid semi-annually on March 30 and September 30, beginning March 30, 2025. The company intends to use the net proceeds from the sale of the notes for repayment at maturity of the company’s
J.P. Morgan Securities LLC, Goldman Sachs & Co. LLC and PNC Capital Markets LLC are acting as the joint book-running managers for the offering. Copies of the prospectus supplement and accompanying base prospectus for the offering may be obtained by contacting J.P. Morgan Securities LLC, 383 Madison Avenue,
The notes were offered and will be sold pursuant to an effective shelf registration statement on Form S-3 previously filed with the Securities and Exchange Commission, and only by means of a prospectus supplement and accompanying base prospectus. This press release does not constitute an offer to sell or a solicitation of an offer to buy the securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About First American
First American Financial Corporation (NYSE: FAF) is a premier provider of title, settlement and risk solutions for real estate transactions. First American also provides data products to the title industry and other third parties; valuation products and services; mortgage subservicing; home warranty products; banking, trust and wealth management services; and other related products and services.
Forward-Looking Statements
Certain statements made in this press release, including the closing date of the offering and the use of net proceeds from such offering, are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Risks and uncertainties exist that may cause results to differ materially from those set forth in these forward-looking statements. Factors that could cause the anticipated results to differ from those described in the forward-looking statements include, without limitation: interest rate fluctuations; changes in conditions of the real estate markets; volatility in the capital markets; unfavorable economic conditions; and other factors described in the company’s annual report on Form 10-K for the year ended December 31, 2023, quarterly report on Form 10-Q for the quarter ended March 31, 2024 and quarterly report on Form 10-Q for the quarter ended June 30, 2024, each as filed with the Securities and Exchange Commission. The forward-looking statements speak only as of the date they are made. The company does not undertake to update forward-looking statements to reflect circumstances or events that occur after the date the forward-looking statements are made.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240923810819/en/
Media Contact:
Marcus Ginnaty
Corporate Communications
First American Financial Corporation
714-250-3298
Investor Contact:
Craig Barberio
Investor Relations
First American Financial Corporation
714-250-5214
Source: First American Financial Corporation
FAQ
What is the size and interest rate of First American Financial's (FAF) new senior notes offering?
When is the expected closing date for FAF's senior notes offering?
How does First American Financial (FAF) plan to use the proceeds from the senior notes offering?
Who are the joint book-running managers for FAF's senior notes offering?
When will First American Financial (FAF) begin paying interest on the new senior notes?
