Press Release Details
Fairfax India Completes $550 Million Term Loan and $50 Million Revolving Credit Facility
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
(Note: All dollar amounts in this news release are expressed in U.S. dollars, except as otherwise noted).
TORONTO, June 28, 2019 (GLOBE NEWSWIRE) — Fairfax India Holdings Corporation (“Fairfax India”) (TSX: FIH.U) has completed a $550 million secured term loan facility (“Term Loan Facility”) with a syndicate of Canadian banks, which loan amends, restates and replaces its existing $550 million secured term loan. Fairfax India has also completed a $50 million secured revolving credit facility with a Canadian bank (the “Revolving Loan Facility”). Each of the Term Loan Facility and Revolving Loan Facility have a one-year term, with an option to extend for an additional year.
Fairfax India is an investment holding company whose objective is to achieve long-term capital appreciation, while preserving capital, by investing in public and private equity securities and debt instruments in India and Indian businesses or other businesses with customers, suppliers or business primarily conducted in, or dependent on, India.
For further information, contact:
John Varnell, Vice President, Corporate Affairs