First American Financial Corporation Prices Senior Notes Offering

By: First American Financial Corporation via Business Wire

July 27, 2021 at 22:30 PM EDT

First American Financial Corporation (NYSE: FAF), a leading global provider of title insurance, settlement services and risk solutions for real estate transactions, today announced the pricing of a public offering of $650 million of its 2.40 percent senior notes due 2031. The offering is expected to close on August 3, 2021, subject to customary conditions.

The notes will be general senior unsecured obligations of the company and will rank equally in right of payment with the company’s existing and future senior unsecured indebtedness. Interest will be paid semi-annually on February 15 and August 15, beginning February 15, 2022. The company intends to use the net proceeds from the sale of the notes for general corporate purposes, which may include, among other possible uses, acquisitions, funding for working capital, the repayment or repurchase of short-term or long-term debt or lease obligations (including the repayment at maturity of the company’s 4.30 percent senior notes due 2023), repurchase of the company’s capital stock and other capital expenditures. The company may also use the net proceeds for temporary investments until it needs them for general corporate purposes.

J.P. Morgan Securities LLC and Goldman Sachs & Co. LLC are acting as the joint book-running managers for the offering. Copies of the prospectus supplement and accompanying base prospectus for the offering may be obtained by contacting J.P. Morgan Securities LLC, 383 Madison Avenue, New York, NY 10179, telephone (212) 834-4533, Attention: High Grade Syndicate Desk; or by contacting Goldman, Sachs & Co., 200 West Street, New York, NY 10282, telephone (201) 793-5170, Attention: Prospectus Department. An electronic copy of the prospectus supplement and accompanying base prospectus for the offering may also be obtained at www.sec.gov.

The notes were offered and will be sold pursuant to an effective shelf registration statement on Form S-3 previously filed with the Securities and Exchange Commission, and only by means of a prospectus supplement and accompanying base prospectus. This press release does not constitute an offer to sell or a solicitation of an offer to buy the securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About First American

First American Financial Corporation (NYSE: FAF) is a leading provider of title insurance, settlement services and risk solutions for real estate transactions that traces its heritage back to 1889. First American also provides title plant management services; title and other real property records and images; valuation products and services; home warranty products; banking, trust and wealth management services; and other related products and services.

Forward-Looking 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 meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Risks and uncertainties exist that may cause results to differ materially from those set forth in these forward-looking statements. Factors that could cause the anticipated results to differ from those described in the forward-looking statements include: interest rate fluctuations; changes in the performance of the real estate markets; volatility in the capital markets; unfavorable economic conditions; the coronavirus pandemic and responses thereto; and other factors described in the company’s annual report on Form 10-K for the year ended December 31, 2020 and quarterly report on Form 10-Q for the quarter ended June 30, 2021, each as filed with the Securities and Exchange Commission. The forward-looking statements speak only as of the date they are made. The company does not undertake to update forward-looking statements to reflect circumstances or events that occur after the date the forward-looking statements are made.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210727006203/en/

Contacts

Media Contact:

Marcus Ginnaty

Corporate Communications

First American Financial Corporation

714-250-3298

Investor Contact:

Craig Barberio

Investor Relations

First American Financial Corporation

714-250-5214

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First American Financial Corporation Prices Senior Notes Offering

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