MONTREAL—Telesystem International Wireless Inc. announced several financial moves it has taken as part of its overall recapitalization plan announced last November.
The company has given notice to extend its purchase offer for all its outstanding units in exchange for 5.46 subordinate voting shares of TIW for each unit tendered. This offer will now expire February 4 unless further extended or withdrawn.
In addition, TIW has given notice to amend and extend its purchase offer and consent request related to its 7 percent equity subordinated debentures (ESDs) that mature February 15.
Finally, Amaranth L.L.C. and TAL Global Asset Management Inc., institutional investment funds that together hold more than $33 million in TIW ESDs, have agreed to tender their debentures pursuant to the terms of the amended offer, under which holders can take either a share option or cash option.
