Worldwide Fiber Inc. files final offering memorandum in July 1999

Worldwide Fiber Inc., a Vancouver-based provider of technologically advanced fiber optic communications infrastructure, filed a final offering memorandum on July 23, 1999 in respect of the issue and sale of U. S. $500 million (Cdn. $750 million) 12% Senior Notes due 2009. The proceeds of the offering will be used to finance the cost of development, construction or acquisition of telecommunications assets. Worldwide Fiber is an indirectly, wholly-owned subsidiary of Vancouver-based Ledcor Inc. Legal advice was provided to Worldwide Fiber by Roger Andrus of Cahill Gordon & Reindel (New York) and Cameron Belsher, assisted by associates Jennifer Farac and Trevor Scott, of Farris, Vaughan, Wills & Murphy (Vancouver), and to the underwriters Donaldson, Lufkin & Jenrette, Morgan Stanley Dean Witter, Salomon Smith Barney Inc. and TD Securities Inc. by Michelle Bergman of Latham & Watkins (New York) and P. Dougal Macdonald, Monica Biringer (tax), Kirsten Embree (telecom regulatory) and John Black (associate) of Osler, Hoskin & Harcourt.