BRIEF-Blackberry says Fairfax, other investors to subscribe for some of its debentures

Fri Aug 26, 2016 2:22pm EDT
 
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Aug 26 (Reuters) - Blackberry Ltd :

* Blackberry announces redemption of existing convertible debentures and issuance of new convertible debentures

* Announces amendment of indenture governing 6 percent unsecured convertible debentures to permit optional redemption prior to nov 13, 2016

* There will be issuance of notice of redemption to holders of 6 percent debentures for company to redeem outstanding amount of 6% debentures on Sept 2

* 6% debentures will be redeemed on redemption date at a redemption price of 106.7213% of outstanding principal amount of debentures

* Approximately $1.245 billion aggregate principal amount of 6 percent debentures remains outstanding

* Entered into agreement with Fairfax Financial Holdings Ltd, other institutional investors

* Normal course issuer bid for 6% debentures announced by blackberry on August 4, 2016 will terminate upon completion of redemption

* Fairfax, other investors to subscribe for 3.75% unsecured convertible debentures of company on private placement basis for subscription price of $605 million

* Under agreement with Fairfax, Blackberry's 3.75% debentures will be convertible into common shares of Blackberry at price of $10/share Source text for Eikon: Further company coverage: