BlackBerry completes offering of 3.00% convertible senior notes
On January 29, 2024, BlackBerry Limited ("BlackBerry") completed the issuance of its previously announced private placement of US$200 million aggregate principal amount of its 3.00% convertible senior notes, including US$25 million issued pursuant to the full exercise of the initial purchaser's over-allotment option.
The notes will bear interest at a rate of 3.00% per year, payable semiannually in arrears on February 15 and August 15 of each year, beginning on August 15, 2024, and maturing on February 15, 2029, unless earlier converted, redeemed or repurchased.
The notes were offered only to qualified institutional buyers in accordance with Rule 144A under the U.S. Securities Act of 1933, as amended, and pursuant to prospectus exemptions in Canada and other jurisdictions.
BlackBerry intends to use the net proceeds from the offering to fund the repayment or repurchase of its outstanding C$150 million aggregate principal amount of 1.75% extendible convertible unsecured debentures due February 15, 2024 and the remainder for general corporate purposes.
Further information can be found on Canada Newswire’s website.
BlackBerry provides intelligent security software and services to enterprises and governments around the world. Based in Waterloo, Ontario, the company leverages AI and machine learning to deliver innovative solutions in the areas of cybersecurity, safety and data privacy solutions, and is a leader in the areas of endpoint security management, encryption, and embedded systems.