Industry News
April 21, 2009
Fidelity National To Issue Common Stock
Fidelity National Financial, parent company of several CLTA member title insurers, has announced that it will issue $300 million of common equity. Proceeds from the issuance will go toward paying down bank debt, reducing holding company debt-to-total capital to approximately 24% from 32% at December 31, 2008. This is within management’s long-range target of 20%-25% of total capital. The stock issuance does not affect the capitalization at the title insurance operating company level.
