Fairfax buying another $250M worth of BlackBerry notes

|About: BlackBerry Ltd. (BB)|By:, SA News Editor

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