Hutchison and Chase Acquire TIW Stock

Telesystem International Wireless Inc. (TIW) of Montreal completed, on March 10, 2000, a private placement pursuant to which each of Hutchison Whampoa Limited (Hutchison) and Chase Capital Partners (Chase) purchased US$150 million of equity subordinated debentures convertible into TIW subordinate voting shares. The convertible equity subordinated debentures will mature in 2010 and carry a coupon of 7.75 per cent. Hutchison Whampoa has an option to purchase an additional US$50 million of convertible equity subordinated debentures upon the occurrence of certain events.

Hutchison and Chase Capital were represented by a team from Stikeman Elliott lead by William A. Scott from the firm’s Toronto office, with support from Eugene Kwan, Clifford Ng and Michelle Cheng from the firm’s Hong Kong office, Marie-Josée Henri and Alix d’Anglejan-Chatillon from the firm’s New York office, Jeffrey Keey and Catherine Hill from the firm’s London office and Étienne Massicotte from the firm’s Montreal office. Tax advice was provided by Ronald Durand and David Weekes. Hutchison’s New York law advisers were Dewey Ballantine, Greg Gilbert and Melissa Cole of O’Sullivan, Graev & Karabell LLP acted on behalf of Chase Capital Partners. Stikeman Elliott was instructed by Hutchison’s group legal counsel, Edith Shih and telecoms counsel Steven Allen. Telesystem was advised by its general counsel Margriet Zwarts with assistance from Canadian counsel, Philippe David and Michel Boislard of the New York office of Fasken Martineau DuMoulin LLP and as to New York law by David P. Falck and Ron Flemming of Winthrop, Stimson, Putnam & Roberts of New York.


Jeffrey Keey Michel Boislard Ron Durand Ronald Fleming Gregory Gilbert Eugene Kwan Etienne Massicotte William A. Scott Marie-Josée Henri David P. Falck Margriet Zwarts David G. Weekes Alix d'Anglejan-Chatillon


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