On July 20, 1999 Teleglobe Inc. completed the second largest debt offering ever by a Canadian issuer in the United States. Teleglobe issued U. S. $ 1 bn. of debentures to repay outstanding indebtedness and fund capital expenditures, including a portion of the expenditures required for its recently announced GlobeSystem Network. Teleglobe relied on André Bourbonnais, Vice-President, Chief Legal Officer and Corporate Secretary and Lydia Brown, legal counsel. As Canadian counsel on the transaction, Teleglobe tapped Robert Paré and Frédéric Despars of Montreal’s Martineau Walker. As U. S. counsel, New York’s Simpson Thacher & Bartlett were retained. The underwriters, Merrill Lynch & Co. , retained as U. S. counsel Brice T. Voran and Richard J. B. Price of the Toronto office of U. S. -based Shearman & Sterling. As Canadian counsel on the transaction Merrill Lynch & Co. retained Marc Lacourciére and Clemens Mayr of Ogilvy Renault’s Montreal office.