CanWest Media Completes High Yield Debt Offering

On April 3, 2003, CanWest Media Inc. completed a private placement of US$200 million of 7 5/8 per cent unsecured senior notes due 2013 in the U.S. and in Canada. The Rule 144A/Reg S offering was led by Salomon Smith Barney, now Citigroup Global Markets Inc. The net proceeds of the offering were used to retire certain outstanding indebtedness and for general corporate purposes. The offering will be followed by an exchange offer by CanWest for substantially identical notes registered with the U.S. Securities and Exchange Commission.

CanWest was represented in-house by Richard Leipsic, vice-president and general counsel and Pamela Harrod, associate general counsel. In Canada, CanWest was represented by Osler, Hoskin & Harcourt LLP with a team that included Linda Robinson, Ward Sellers, Richard Pratt, Carl DeLuca and Robert Silver (corporate), David Tetreault, Elizabeth Rumble and Jack Silverson (tax) and Kirsten Embree and Jennifer Crowe (regulatory). In the U.S., CanWest was represented by Kaye Scholer LLP with a team that included Joel Greenberg, Edmond Gabbay, Louis Tuchman and Jennifer Kurtis in New York.

Citigroup Global Markets was represented in Canada, by Davies Ward Phillips & Vineberg LLP with a team that included Patricia Olasker, Kenneth Klassen, Patrick Moyer and Jason Rosen (corporate) and Siobhan Monaghan and John Zinn (tax), and in the U.S., by Cahill Gordon & Reindel LLP with a team that included Geoffrey Liebmann, Michael Dakin, Christopher Chaice, Andrew Goldman, Kurt Neumann and Michael Tollini (corporate) and Craig Horowitz and Erica Swanson (tax) in New York.