debt
confidence high
sentiment neutral
materiality 0.50
First American issues $650M of 2.400% Senior Notes due 2031
First American Financial Corp
- Issued $650M aggregate principal of 2.400% Senior Notes maturing August 15, 2031.
- Interest payable semi-annually on Feb 15 and Aug 15, beginning Feb 15, 2022.
- Notes callable before May 15, 2031 at make-whole price (T+20bps); thereafter at par.
- Notes are unsecured, rank equally with existing senior unsecured debt, and effectively subordinated to subsidiary liabilities.