IAS 12

Fairfax Completes US$1 Billion Senior Notes Offering

Retrieved on: 
Friday, March 22, 2024
Failure, Risk management, Asbestos, EDGAR, Regulation, Sale, IAS 12, Insurance, TSX, Investment, Note, Annual report, Fairfax Financial, FFH, IAS, Government, Security (finance)

TORONTO, March 22, 2024 (GLOBE NEWSWIRE) -- Fairfax Financial Holdings Limited (“Fairfax”) (TSX: FFH and FFH.U) has completed its previously announced offering of US$1,000,000,000 in aggregate principal amount of 6.350% senior notes due 2054 (the “Notes”).

Key Points: 
  • TORONTO, March 22, 2024 (GLOBE NEWSWIRE) -- Fairfax Financial Holdings Limited (“Fairfax”) (TSX: FFH and FFH.U) has completed its previously announced offering of US$1,000,000,000 in aggregate principal amount of 6.350% senior notes due 2054 (the “Notes”).
  • In connection with the closing of the offering, Fairfax entered into a customary registration rights agreement.
  • Fairfax intends to use the net proceeds of this offering for general corporate purposes.
  • Such forward-looking statements may include, among other things, the intended use of the net proceeds from the offering of the Notes.

Fairfax Announces Pricing of Senior Notes Offering

Retrieved on: 
Tuesday, March 19, 2024
Failure, Risk management, Asbestos, EDGAR, Regulation, Sale, IAS 12, United, Insurance, TSX, Investment, Note, Annual report, Fairfax Financial, FFH, IAS, Government, Security (finance)

TORONTO, March 19, 2024 (GLOBE NEWSWIRE) -- Fairfax Financial Holdings Limited (“Fairfax”) (TSX: FFH and FFH.U) announces that it has priced a private offering of US$1,000,000,000 of senior notes due 2054 (the “Notes”) at an issue price of 99.734%.

Key Points: 
  • TORONTO, March 19, 2024 (GLOBE NEWSWIRE) -- Fairfax Financial Holdings Limited (“Fairfax”) (TSX: FFH and FFH.U) announces that it has priced a private offering of US$1,000,000,000 of senior notes due 2054 (the “Notes”) at an issue price of 99.734%.
  • The Notes will be unsecured obligations of Fairfax and will pay a fixed rate of interest of 6.350% per annum.
  • Fairfax also intends to enter into a registration rights agreement in connection with the offering.
  • Such forward-looking statements may include, among other things, the intended use of net proceeds from the offering of the Notes and the anticipated completion of the offering of the Notes.

ESMA sets out expectations regarding application of IAS 12

Retrieved on: 
Tuesday, July 16, 2019
Accounting, Tax accounting, Financial statements, Corporate finance, Business, Financial regulation, International Financial Reporting Standards, IAS 12, IAS 1, Deferred tax, International Financial Reporting Standards requirements, Income statement

15 July 2019

Key Points: 
  • 15 July 2019

    IAS Regulation

    The European Securities and Markets Authority (ESMA), the EUs securities markets regulator, haspublishedtoday a Public Statement on IAS 12 Income Taxes, setting out its expectations regarding the application of the requirements relating to the recognition, measurement and disclosure of deferred tax assets (DTAs) arising from unused tax losses in IFRS financial statements.

  • This Public Statement aims to promote consistent application of IFRS across the European Union, and includes key messages that issuers, auditors and audit committees should take into account when recognising deferred tax assets in their financial statements, thereby providing insights on issues on which European enforcers usually challenge issuers.
  • The Public Statement stems from the findings and discussions of the European Enforcers Coordination Sessions (EECS), where several cases highlighted that significant divergence exists in the application and enforcement of the requirements on deferred tax losses arising from unused tax losses carried forward.
  • ESMA and National Competent Authorities will continue to monitor the application of the requirements set out in IAS 12 and will pay attention to the issue highlighted in this Public Statement when performing examinations of financial statements.