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Posted AT 10:23 AM EST on 11/08/08

Fairfax backs Mega Brands refinancing

TARA PERKINS

Globe and Mail Update

Montreal-based toy maker Mega Brands Inc. has struck a deal to receive an injection of needed financing from Toronto-based insurer Fairfax Financial Holdings Ltd. The deal, which is expected to close later this month, involves a $75-million private placement of unsecured convertible debentures that mature Aug. 31, 2013. Fairfax will invest $64-million, and Victor J. Bertrand Sr., the company's founder and chairman, will invest $7-million.

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