Back in mid-December, BlackBerry announced that the deadline to purchase option for additional convertible debentures was being extended until January 13th. Earlier today, BlackBerry announced via a press release confirmation that Fairfax Financial Holdings Limited has agreed to purchase an additional $250,000,000 principal amount of 6% unsecured subordinated convertible debenture through its subsidiaries. The transaction should be completed before January 16, 2014.
WATERLOO, ONTARIO--(Marketwired - January 08, 2014) - BlackBerry® Limited (NASDAQ: BBRY)(TSX: BB), a world leader in mobile communications, announced today that Fairfax Financial Holdings Limited has agreed to purchase, through its subsidiaries, an additional $250,000,000 principal amount of 6% unsecured subordinated convertible debentures of BlackBerry (the "Debentures"). The additional Debentures will be purchased pursuant to the exercise of a previously-announced option that was granted in connection with BlackBerry's private placement of $1 billion principal amount of Debentures on November 13, 2013, and the transaction will be completed on or before January 16, 2014.