08-29-16 06:32 PM
31 12
tools
  1. koool1's Avatar
    Company getting taken out?

    Posted via BlackBerry PRIV
    08-26-16 12:42 PM
  2. zephyr613's Avatar
    I just got the alert - trading halted due to "news pending"

    WTF?
    08-26-16 12:46 PM
  3. joe_23's Avatar
    Let's see that buyout.

    Posted via CB10
    08-26-16 12:51 PM
  4. koool1's Avatar
    My buddy says Apple is buying them. Lol

    Posted via BlackBerry PRIV
    MB64 likes this.
    08-26-16 12:52 PM
  5. DrBoomBotz's Avatar
    Looks like we might have something to talk about around here.
    08-26-16 12:55 PM
  6. niumxp's Avatar
    Oh boy..doesn't sounds good .hopefully I'm wrong.

    Posted via CB10
    Paof-7 likes this.
    08-26-16 12:56 PM
  7. zephyr613's Avatar
    My buddy says Apple is buying them. Lol

    Posted via BlackBerry PRIV
    Wait, What???
    08-26-16 12:57 PM
  8. zephyr613's Avatar
    I was thinking that it was halted because VZW decided to buy BBRY and that's why they have not pushed MM out to the PRIV... LOL (kinda..)
    Last edited by zephyr613; 08-26-16 at 01:08 PM.
    08-26-16 12:57 PM
  9. FR33MAN's Avatar
    I was thinking that it was halted because VZW decided to buy BBRY and that's why they have not pushed MM out to the PRIV...
    To be the first to push android N on the priv

    Posted via CB10
    zephyr613 likes this.
    08-26-16 01:04 PM
  10. DrBoomBotz's Avatar
    bnn says BB is redeeming convertible debentures http://www.bnn.ca/
    08-26-16 01:05 PM
  11. zephyr613's Avatar
    I posted this in the other forum post regarding the stock price :

    You think that is the news? I am watching this very closely and the "talking heads" are saying how very odd it is for trading to be halted in the middle of the day on a Friday no less.
    Paof-7 likes this.
    08-26-16 01:08 PM
  12. Ment's Avatar
    Why couldn't they announce that over the weekend. Seems highly irregular to halt on a Friday for this.
    08-26-16 01:08 PM
  13. zephyr613's Avatar
    Why couldn't they announce that over the weekend. Seems highly irregular to halt on a Friday for this.
    Thats what CNBC is saying and they haven't even broached the debenture statement as of yet, just how odd it is to be halted now..
    08-26-16 01:10 PM
  14. koool1's Avatar
    bnn says BB is redeeming convertible debentures http://www.bnn.ca/
    Zzzzzzz

    Big deal

    Posted via BlackBerry PRIV
    FF22 likes this.
    08-26-16 01:20 PM
  15. zephyr613's Avatar
    08-26-16 01:31 PM
  16. Tornado99's Avatar
    Trading resumed at 2:30pm est.


    This Passport takes me places!
    Paof-7 likes this.
    08-26-16 01:32 PM
  17. Ment's Avatar
    Maybe they got wind they were going to get scooped on the news. Still weird to me.
    08-26-16 01:33 PM
  18. StephanieMaks's Avatar
    What does this mean exactly in simple terms?

    They're buying back a bunch of 6% debt, and replacing it with 3.75% debt?
    08-26-16 01:34 PM
  19. Ment's Avatar
    cheaper debt basically. Think of it as refinancing your mortgage.
    Hazo, StephanieMaks and TGR1 like this.
    08-26-16 01:35 PM
  20. zephyr613's Avatar
    But doesn't it also mean their credit "rating" has gone up? As in one could get a better interest rate at a car dealership based on credit rating.


    And if that is the the correct analogy, would it be also one step further to view this as a massive positive that they are building their finances back to profitability - or am I thinking of the Mars initiative to get us to live up there
    BigAl_BB9900 likes this.
    08-26-16 01:44 PM
  21. BanffMoose's Avatar
    cheaper debt basically. Think of it as refinancing your mortgage.
    To use your analogy, they paid off roughly half their debt and then refinanced the other half. With the refinance, they cut their interest rate in half.

    All said and done, they will have cut their annual interest expense by about 70% or roughly $52 million a year.
    08-26-16 01:44 PM
  22. anon(9742832)'s Avatar
    Company getting taken out?

    Posted via BlackBerry PRIV
    Direct from the WIRE:

    BlackBerry Ltd. BBRY, -0.13% said it will notify holders of its 6% unsecured convertible debt that it will redeem all of the principal amount of the debt on Sept. 2. The debt will be redeemed at a price of 106.7212% of the outstanding principal amount. Prior to the redemption, the debt holders remain entitled to convert the debt to common stock at a price of $10.00 a share. The stock, which has been halted for news, last traded at $7.92, which is 21% below the conversion price. Separately, BlackBerry said it entered into an agreement with Fairfax Financial Holdings Ltd. and other institutional investors to issue 3.75% unsecured convertible debt for a total price of 4605 million. The deal is expected to close on Sept. 2. The debt will be convertible to common stock at $10.00 a share, and will be due Nov. 13, 2020. "The restructuring of our convertible debt will enable us to significantly reduce our interest expense and potential future dilution for our shareholders," said Chief Executive John Chen. The stock, which is slated to resume trading at 2:30 p.m. ET, has dropped 15% year to date, while the S&P 500 SPX, -0.16% had gained 6%.


    IIROC Trade Resumption - BlackBerry Limited
    08-26-16 03:32 PM
  23. BigAl_BB9900's Avatar
    But doesn't it also mean their credit "rating" has gone up? As in one could get a better interest rate at a car dealership based on credit rating.


    And if that is the the correct analogy, would it be also one step further to view this as a massive positive that they are building their finances back to profitability - or am I thinking of the Mars initiative to get us to live up there
    Absolutely correct.
    zephyr613 likes this.
    08-27-16 02:57 AM
  24. EchoTango's Avatar
    For those who are not financially savvy....

    This is a private placement Convertible Bond (debt) termination and re-issue where Blackberry is redeeming the current Convertible Bonds at 6% and simultaneously issuing new Convertible Bonds at 3.75%, which Fairfax has already agreed to fully subscribe. The Convertible option means the bonds can be "converted" to common shares at $10 USD per share, which is currently underwater, but may be a significant should the stock move higher on better earnings. Clearly 6% return was pretty good when you consider the Bank Rate is currently at .5%.

    This is marginally good news for Blackberry which will reduce it's interest payments by 2.25%, but I wonder what side deal Jon Chen had to agree to for Fairfax to let this happen. Remember, John is Fairfax's "creature" so I doubt John would do anything to disadvantage them. We won't know until either the company is sold or the stock gains become material and maybe we'll see a "surprise" dilution of the stock, for example.
    08-27-16 08:43 AM
  25. THBW's Avatar
    Sometimes the simplest explanation is the most accurate. The interest rate is dropping on the CD because the risk of default is falling and chance of stock appreciation is rising. It is good news on the long road to recovery.

    Posted via CB10
    08-27-16 11:22 AM
31 12

Similar Threads

  1. BBRY stock
    By OTCHRussell in forum BBRY
    Replies: 10
    Last Post: 08-15-16, 02:57 PM
  2. BBRY on the wrong path again.
    By smoothrunnings in forum BlackBerry DTEK50
    Replies: 45
    Last Post: 07-29-16, 12:08 PM
  3. Replies: 3
    Last Post: 07-07-16, 02:43 PM
  4. Dear BBRY Design Team, it's June 2016
    By ksigma in forum BlackBerry KEYone
    Replies: 67
    Last Post: 06-03-16, 05:14 PM
  5. Replies: 6
    Last Post: 05-03-16, 12:21 PM
LINK TO POST COPIED TO CLIPBOARD