U.S. Markets close in 2 hrs 25 mins

BlackBerry says Fairfax to purchase additional $250M of debentures

BlackBerry (BBRY) announced that Fairfax Financial (FRFHF) has agreed to purchase, through its subsidiaries, an additional $250M principal amount of 6% unsecured subordinated convertible debentures of BlackBerry. The additional debentures will be purchased pursuant to the exercise of a previously-announced option that was granted in connection with BlackBerry's private placement of $1B principal amount of debentures on November 13, 2013, and the transaction will be completed on or before January 16.