Fidelity National Financial Prices $450 Million Of 3.200% Notes Due September 17, 2051
Fidelity National Financial (FNF) priced $450 million of 3.200% senior notes due September 17, 2051. The notes were priced at 99.770% to yield 3.212% annually, with interest payable semi-annually. Net proceeds will be used for general corporate purposes. The offering involves major underwriters like BofA Securities and J.P. Morgan. As the largest title insurance provider in the U.S., FNF plays a critical role in real estate transactions. However, the company faces various risks, including market volatility and economic conditions that may impact its operations.
- Issuance of $450 million in 3.200% senior notes indicates strong demand.
- The notes are set to yield 3.212%, which may be attractive for investors seeking fixed income.
- Potential disruptions to business operations due to the notes offering.
- Exposure to adverse economic conditions affecting real estate activity.
JACKSONVILLE, Fla., Sept. 14, 2021 /PRNewswire/ -- Fidelity National Financial, Inc. (NYSE: FNF) ("FNF") today announced that it has priced an issuance of
The net proceeds of the issuance of the notes will be used for general corporate purposes.
The notes are being offered pursuant to a prospectus supplement and accompanying prospectus, which can be obtained by contacting BofA Securities, Inc., toll-free at (800) 294-1322 or by email at dg.prospectus_requests@bofa.com, or J.P. Morgan Securities LLC, collect at (212) 834-4533. This press release shall not constitute an offer to sell or the solicitation of an offer to buy securities, nor shall there be any sale of the notes in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.
About Fidelity National Financial, Inc.
Fidelity National Financial, Inc. (NYSE: FNF) is a leading provider of title insurance and transaction services to the real estate and mortgage industries. FNF is the nation's largest title insurance company through its title insurance underwriters - Fidelity National Title, Chicago Title, Commonwealth Land Title, Alamo Title and National Title of New York - that collectively issue more title insurance policies than any other title company in the United States.
About F&G
F&G is part of the FNF family of companies. F&G is committed to helping Americans turn their aspirations into reality. F&G is a leading provider of annuity and life insurance products and is headquartered in Des Moines, Iowa.
Cautionary Note Regarding Forward-Looking Statements
"Safe Harbor" Statement Under the Private Securities Litigation Reform Act of 1995: This press release contains, and certain oral statements made by our representatives from time to time may contain, forward-looking statements relating to FNF, including statements relating to the completed notes offering transaction and related matters. Such statements are subject to risks and uncertainties, many of which are beyond the control of FNF, that could cause actual results, events and developments to differ materially from those set forth in, or implied by, such statements. These statements are based on the beliefs and assumptions of the management of FNF. Forward-looking statements are generally identifiable by use of the words "believes," "expects," "intends," "anticipates," "plans," "seeks," "estimates," "projects," "may," "will," "could," "might," or "continues" or similar expressions. Factors that could cause actual results, events and developments to differ include, without limitation: (1) changes in general economic, business and political conditions, including changes in the financial markets; (2) the risk that the notes offering transaction disrupts current plans and operations of FNF as a result of the closing thereof; (3) changes in applicable laws or regulations; (4) the possibility that FNF may be adversely affected by other economic, business, and/or competitive factors, as well as the impact on the business, operations, results of operations and trading prices of the shares of FNF arising out of the COVID-19 outbreak; (5) the severity of FNF's title insurance claims; (6) a downgrade of FNF's credit rating by rating agencies; (7) adverse changes in the level of real estate activity, which may be caused by, among other things, high or increasing interest rates, a limited supply of mortgage funding, increased mortgage defaults, or a weak U.S. economy; (8) our business concentration in the States of California, Texas, Florida, New Jersey and Arizona; (9) our potential inability to find suitable acquisition candidates; (10) our dependence on distributions from our title insurance underwriters as our main source of cash flow; (11) competition from other title insurance companies; (12) interest rate fluctuations; (13) equity market volatility; (14) credit risks of our counterparties, including companies with whom we have reinsurance agreements or have purchased call options; and (15) other risks and uncertainties identified in FNF's filings with the U.S. Securities and Exchange Commission, including the prospectus. FNF cautions readers not to place undue reliance upon any forward-looking statements, which speak only as of the date made. FNF does not undertake or accept any obligation or undertaking to release any updates or revisions to any forward-looking statements to reflect any change in its expectations or any change in events, conditions or circumstances on which any such statement is based, subject to applicable law. The information contained in any website referenced herein is not, and shall not be deemed to be, part of or incorporated into this press release.
All forward-looking statements described herein are qualified by these cautionary statements and there can be no assurance that the actual results, events or developments referenced herein will occur or be realized. FNF does not undertake any obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results, except as required by law.
FNF-G
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SOURCE Fidelity National Financial, Inc.
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