The First American Corporation Announces Plans For Rule 144A Offering of Senior Convertible Debt

Apr 10, 2001, 01:00 ET from The First American Corporation

    SANTA ANA, Calif., April 10 /PRNewswire/ -- The First American Corporation
 (NYSE:   FAF), the nation's leading, diversified provider of business
 information and related products and services, today announced plans to launch
 an offering of senior convertible debentures.  The senior convertible
 debentures will mature in 7 years.  The company expects to receive gross
 proceeds of approximately $175 million from the offering.  The underwriters of
 this offering will be granted an option to purchase additional senior
 convertible debentures, which would provide up to $35 million of additional
 gross proceeds to First American.
     The offering will be made on a Rule 144A basis to qualified institutional
 buyers, which will have certain registration rights.  First American intends
 to register the senior convertible debentures with the Securities and Exchange
 Commission within 90 days after their original issuance.  First American
 expects to price the convertible offering during the week of April 16, 2001.
     The net proceeds from this offering will be used to: finance acquisitions
 of businesses and assets that the company believes will complement its three
 primary business segments; repay outstanding indebtedness; buy out minority
 interests in existing subsidiaries; and for general corporate purposes.
     This press release shall not constitute an offer to sell or a solicitation
 of an offer to buy the senior convertible debentures, nor shall there be any
 sale of these senior convertible debentures in any state in which such offer,
 solicitation or sale would be unlawful prior to registration or qualification
 under the securities laws of any such state.  Any offer, if any at all, will
 be made only by means of an offering circular.
     The senior convertible debentures have not been registered under the
 Securities Act and may not be offered or sold in the United States absent
 registration or an applicable exemption from registration.
 
     The First American Corporation, based in Santa Ana, Calif., is the
 nation's leading, diversified provider of business information and related
 products and services.  The corporation's three primary business segments
 include: title information and services; real estate information and services,
 which includes mortgage information services and database information and
 services; and consumer information and services, which provides automotive,
 sub-prime and direct-to-consumer credit reporting; direct-to-consumer public
 records reporting; resident screening; pre-employment screening; property and
 automotive insurance tracking services; property and casualty insurance; home
 warranties; investment advisory; and trust and banking services.  Information
 about the company and an archive of its press releases can be found on the
 Internet at www.firstam.com.
 
     (Photo:  http://www.newscom.com/cgi-bin/prnh/19990929/FAFLOGO )
 
 

SOURCE The First American Corporation
    SANTA ANA, Calif., April 10 /PRNewswire/ -- The First American Corporation
 (NYSE:   FAF), the nation's leading, diversified provider of business
 information and related products and services, today announced plans to launch
 an offering of senior convertible debentures.  The senior convertible
 debentures will mature in 7 years.  The company expects to receive gross
 proceeds of approximately $175 million from the offering.  The underwriters of
 this offering will be granted an option to purchase additional senior
 convertible debentures, which would provide up to $35 million of additional
 gross proceeds to First American.
     The offering will be made on a Rule 144A basis to qualified institutional
 buyers, which will have certain registration rights.  First American intends
 to register the senior convertible debentures with the Securities and Exchange
 Commission within 90 days after their original issuance.  First American
 expects to price the convertible offering during the week of April 16, 2001.
     The net proceeds from this offering will be used to: finance acquisitions
 of businesses and assets that the company believes will complement its three
 primary business segments; repay outstanding indebtedness; buy out minority
 interests in existing subsidiaries; and for general corporate purposes.
     This press release shall not constitute an offer to sell or a solicitation
 of an offer to buy the senior convertible debentures, nor shall there be any
 sale of these senior convertible debentures in any state in which such offer,
 solicitation or sale would be unlawful prior to registration or qualification
 under the securities laws of any such state.  Any offer, if any at all, will
 be made only by means of an offering circular.
     The senior convertible debentures have not been registered under the
 Securities Act and may not be offered or sold in the United States absent
 registration or an applicable exemption from registration.
 
     The First American Corporation, based in Santa Ana, Calif., is the
 nation's leading, diversified provider of business information and related
 products and services.  The corporation's three primary business segments
 include: title information and services; real estate information and services,
 which includes mortgage information services and database information and
 services; and consumer information and services, which provides automotive,
 sub-prime and direct-to-consumer credit reporting; direct-to-consumer public
 records reporting; resident screening; pre-employment screening; property and
 automotive insurance tracking services; property and casualty insurance; home
 warranties; investment advisory; and trust and banking services.  Information
 about the company and an archive of its press releases can be found on the
 Internet at www.firstam.com.
 
     (Photo:  http://www.newscom.com/cgi-bin/prnh/19990929/FAFLOGO )
 
 SOURCE The First American Corporation

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