BlackBerry completes debenture-based debt restructuring
Sep. 07, 2016 4:17 PM ETBlackBerry Limited (BB), BB:CABy: Jason Aycock, SA News Editor16 Comments
- BlackBerry (BBRY) has completed a debt restructuring, news for which the stock underwent a well-publicized halt two weeks ago.
- The company wrapped up the redemption of its 6% unsecured convertible debentures, none of which were converted into common shares before redemption.
- It also finished a private placement of $605M in 3.75% unsecured convertible debentures to Fairfax Financial and other institutional investors.
- Since it announced the restructuring Aug. 26, BBRY shares are down 3.8%. The stock is down 17.2% YTD.