Sprint Canada compoletes Receivables Securitization Facility

On July 23, 2003, Sprint Canada Inc., a wholly owned subsidiary of Call-Net Enterprises Inc., entered into a co-ownership and servicing agreement with Finacity Trust, a special purpose trust administered by National Bank Financial Inc. to securitize up to $55 million of certain receivables originating from Sprint Canada’s consumer and enterprise business units. New York-based Finacity Corporation, Inc. agreed to provide certain back office support in its capacity as subservicer. BNY Trust Company of Canada agreed to act as back-up servicer and as custodian under the co ownership and servicing agreement.

Sprint Canada and Call-Net Enterprises were represented in-house by George Malysheff, senior vice-president, CLC and corporate secretary, and Nizam Hasham, senior legal counsel; in Canada by Stikeman Elliott LLP with a team that included Mike Carman, Mark McElheran, D’Arcy Nordick and Samantha Levy (corporate) and David Glicksman (tax); and in the U.S. by Chris Gores of Akin Gump Strauss Hauer & Feld LLP in Dallas.

National Bank Financial and Finacity were represented by McCarthy Tétrault LLP, with a team that included Gordon Thompson, Jim Archer and Aimée Downey (corporate) and James Warnock (tax).


James H. Archer D'Arcy Nordick Samantha Levy James H.M. Warnock F. Gordon Thompson David W. Glicksman Mark E. McElheran Christopher M. Gores Aimée M. Downey


Stikeman Elliott LLP Akin Gump Strauss Hauer & Feld LLP McCarthy Tétrault LLP