WATERLOO, ONT.—BlackBerry Ltd. announced a plan to restructure its debt and cut its interest costs. Trading in BlackBerry shares had been halted pending the announcement. Under the plan, the company will redeem about $1.245 billion (U.S.) in 6-per-cent unsecured convertible debentures which can be converted into BlackBerry shares at a price of $10 (U.S.) per share. BlackBerry also said it has signed a deal with Fairfax Financial Holdings Ltd. and other institutional investors to raise $605 million (U.S.) in new 3.75-per-cent unsecured convertible debentures. The new debentures will be convertible into BlackBerry shares at a price of $10 (U.S.) per share and will be due on Nov. 13, 2020.

Source: thestar August 26, 2016 19:41 UTC