Update: Qatar Holding Invests in BlackBerry’s Convertible Debt Offering

Qatar Holding LLC, the sovereign wealth enterprise of the Qatar Investment Authority, is part of a group of investors allocating capital to Blackberry’s US$ 1 billion convertible debt offering.

On November 6, 2013, we reported that Qatar Holding participated in Blackberry’s convertible debt offering.

According to regulatory filings, Qatar Holding invested US$ 100 million.

Other investors include:

  • Canso Investment Counsel Ltd. – US$ 300 million
  • Fairfax Financial Holdings Limited – US$ 250 million
  • Mackenzie Financial – US$ 200 million
  • Markel Corporation – US$ 70 million
  • Brookfield Asset Management – US$ 10 million
  • Manulife Financial – through funds – US$ 70 million

Toronto-based financial holding company, Fairfax Financial Holdings Limited, the biggest shareholder of Blackberry, committed US$ 250 million to the offering.

On November 6, 2013, Fairfax Financial Holdings entered into an agreement with a syndicate of underwriters led by CIBC and BMO Capital Markets in which the syndicate will buy on a bought deal basis 1,000,000 subordinate voting shares at a price of C$431 per common share. This offering is expected to close on November 15, 2013. Proceeds will be used to further Fairfax’s cash position – indirectly helping the backing of Blackberry.

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