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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