- Prem Watsa's Fairfax Financial has agreed to buy another $250M worth of BlackBerry (BBRY +0.6%) convertible debt. The purchase stems from an option tied to BlackBerry's $1B November convertible debt private placement, which was led by Fairfax. (PR)
- The debt sold through the private placement featured a yield of 6%, and a conversion price of $10/share (17% above current levels).
- BlackBerry had $3.2B in cash/investments at the end of its November quarter, and (thanks to the placement) $994M in debt.
- Yesterday: AT&T promises BlackBerry support, company to focus on keyboard phones
Fairfax buying another $250M worth of BlackBerry notes
Jan 8 2014, 14:58 ET