September 23, 2024, Santa Ana, Calif.
. Very First American Financial Corporation (NYSE: FAF), a premier provider of title, settlement and threat services genuine estate transactions, today revealed the prices of a public offering of $450 million of its 5.450 percent senior notes due 2034. The offering is expected to close on September 30, 2024, subject to popular conditions.
The notes will be general senior unsecured commitments of the company and will rank similarly in right of payment with the company’s existing and future senior unsecured indebtedness. Interest will be paid semi-annually on March 30 and September 30, starting March 30, 2025. The business plans to use the net proceeds from the sale of the notes for payment at maturity of the company’s 4.60% senior notes due 2024 and for basic business functions, which might consist of, to name a few possible uses, acquisitions, funding for working capital, repurchase of the business’s capital stock and other capital expenditures. The business might also utilize the net earnings for short-lived investments until it requires them for basic business purposes.
J.P. Morgan Securities LLC, Goldman Sachs & Co. LLC and PNC Capital Markets LLC are serving as the joint book-running managers for the offering. Copies of the prospectus supplement and accompanying base prospectus for the offering might be acquired by calling J.P. Morgan Securities LLC, 383 Madison Opportunity, New York City, New York 10179, Attention: Investment Grade Distribute Desk, Telephone: (212) 834-4533 (collect); by contacting Goldman Sachs & Co. LLC, Attention: Prospectus Department, 200 West Street, New York City, New York 10282, telephone: 1-866-471-2526, facsimile: 212-902-9316 or by emailing [email protected]; or by contacting PNC Capital Markets LLC at 225 Fifth Avenue, 3 PNC Plaza 10th Floor, Pittsburgh, PA 15222 or by calling (855) 881-0697. An electronic copy of the prospectus supplement and accompanying base prospectus for the offering may also be acquired at www.sec.gov.
The notes were provided and will be sold pursuant to an effective shelf registration statement on Kind S-3 previously submitted with the Securities and Exchange Commission, and just by methods of a prospectus supplement and accompanying base prospectus. This news release does not constitute an offer to sell or a solicitation of an offer to buy the securities explained herein, nor will there be any sale of these securities in any state or jurisdiction in which such a deal, solicitation or sale would be illegal prior to registration or certification under the securities laws of any such state or jurisdiction.
About Very first American
Very First American Financial Corporation (NYSE: FAF) is a premier supplier of title, settlement and threat solutions for real estate deals. First American also offers data items to the title market and other 3rd parties; evaluation products and services; home loan subservicing; home warranty items; banking, trust and wealth management services; and other related services and products.
Positive Statements
Certain statements made in this press release, including the closing date of the offering and the use of net proceeds from such offering, are forward-looking statements within the significance of Section 27A of the Securities Act of 1933, as changed, and Section 21E of the Securities Exchange Act of 1934, as amended. Dangers and unpredictabilities exist that may trigger outcomes to differ materially from those stated in these positive declarations. Elements that might cause the expected results to differ from those described in the forward-looking statements include, without restriction: rates of interest variations; modifications in conditions of the realty markets; volatility in the capital markets; unfavorable financial conditions; and other aspects described in the company’s annual report on Form 10-K for the year ended December 31, 2023, quarterly report on Kind 10-Q for the quarter ended March 31, 2024 and quarterly report on Kind 10-Q for the quarter ended June 30, 2024, each as filed with the Securities and Exchange Commission. The positive declarations speak only since the date they are made. The business does not undertake to upgrade forward-looking declarations to show circumstances or occasions that occur after the date the forward-looking statements are made.
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