debt
confidence high
sentiment neutral
materiality 0.65
FAF prices $650M 2.400% Senior Notes due 2031; use includes debt repayment
First American Financial Corp
- $650M aggregate principal, 2.400% fixed rate, due 2031; expected to close Aug 3, 2021.
- Underwriters led by J.P. Morgan and Goldman Sachs; proceeds for general corporate purposes.
- May use proceeds to repay 4.30% senior notes due 2023, fund acquisitions, working capital, stock repurchases.
- Issued under existing indenture with U.S. Bank; supplemental indenture sets note terms.