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I think the $1bn is coming from Fairfax, but the article isn't entirely clear on that.
by jmacd 13y ago
I think the $1bn is coming from Fairfax, but the article isn't entirely clear on that.
- mitchellhislop 13y agoI read (I can't remember where) that Fairfax was $250 million of that $1bn new convertible debt
- stygiansonic 13y agoThis PR news release is a little less opaque: http://www.marketwired.com/press-release/blackberry-receives-investment-us-1-billion-from-fairfax-financial-other-institutional-nasdaq-bbry-1847833.htm http://www.marketwired.com/press-release/blackberry-receives... Summary: - $1 billion of convertible debentures, $250 million of which is provided by Fairfax. - 6% coupon rate, 7-year maturity. - Convertible to BB shares at a price of $10.00. (If all the debt was converted, it would result in 16% of all common shares outstanding, so a significant potential dilution.)