Fidelity National Financial, Inc. Prices $300 Million of 6.60% Notes Due May 15, 2017

News provided by

Apr 30, 2010, 12:19 ET

JACKSONVILLE, Fla., April 30 /PRNewswire-FirstCall/ -- Fidelity National Financial, Inc. (NYSE: FNF), a leading provider of title insurance, mortgage services, specialty insurance, claims management services and information services, today announced that it has priced an issuance of $300 million of its 6.60% Notes Due May 15, 2017, through joint book-running managers Bank of America Securities LLC and J.P. Morgan Securities Inc. The notes were priced at 99.897 to yield 6.618%. The notes will pay interest semi-annually on the 15th of May and November, beginning November 15, 2010, and mature on May 15, 2017. Barclays Capital Inc., U.S. Bancorp Investments, Inc. and Wells Fargo Securities LLC acted as co-managers.

The notes are rated BBB- by Standard and Poor's ("S&P") and Baa3 by Moody's Investors Service ("Moody's"). The S&P rating carries a negative outlook, while the Moody's rating carries a stable outlook. The net proceeds will be used to repay outstanding borrowings under FNF's revolving credit facility.

"This issuance enhances our longer-term liquidity profile and continues our strategy of conservatively managing our balance sheet and liquidity position during these uncertain times," said Chairman William P. Foley, II. "The net proceeds will more than pre-fund the $165 million of debt that matures in August of 2011, extend the maturity profile of our outstanding debt and provide increased flexibility at the holding company."

The notes are being offered pursuant to a prospectus supplement and accompanying prospectus which can be obtained from Bank of America Securities LLC, 800-294-1322, or J.P. Morgan Securities Inc., Attention: High Grade Syndicate, 383 Madison Avenue 3rd Floor, New York, NY 10017. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the notes in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.

Fidelity National Financial, Inc. (NYSE: FNF), is a leading provider of title insurance, mortgage services, specialty insurance, claims management services and information services. FNF is the nation's largest title insurance company through its title insurance underwriters - Fidelity National Title, Chicago Title, Commonwealth Land Title, Lawyers Title, Ticor Title, Security Union Title and Alamo Title - that collectively issue more title insurance policies than any other title company in the United States. FNF also provides flood insurance, personal lines insurance and home warranty insurance through its specialty insurance business. FNF also is a leading provider of outsourced claims management services to large corporate and public sector entities through its minority-owned subsidiary, Sedgwick CMS. FNF is also a leading information services company in the human resource, retail and transportation markets through another minority-owned subsidiary, Ceridian Corporation. More information about FNF can be found at www.fnf.com.

This press release contains forward-looking statements that involve a number of risks and uncertainties. Statements that are not historical facts, including statements about our beliefs and expectations, are forward-looking statements. Forward-looking statements are based on management's beliefs, as well as assumptions made by, and information currently available to, management. Because such statements are based on expectations as to future economic performance and are not statements of fact, actual results may differ materially from those projected. We undertake no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise. The risks and uncertainties which forward-looking statements are subject to include, but are not limited to: changes in general economic, business and political conditions, including changes in the financial markets; adverse changes in the level of real estate activity, which may be caused by, among other things, high or increasing interest rates, a limited supply of mortgage funding or a weak U. S. economy; our potential inability to find suitable acquisition candidates, acquisitions in lines of business that will not necessarily be limited to our traditional areas of focus, or difficulties in integrating acquisitions; our dependence on operating subsidiaries as a source of cash flow; significant competition that our operating subsidiaries face; compliance with extensive government regulation of our operating subsidiaries; and other risks detailed in the "Statement Regarding Forward-Looking Information," "Risk Factors" and other sections of the Company's Form 10-K and other filings with the Securities and Exchange Commission.

SOURCE Fidelity National Financial, Inc.