Deals

Completion Date
May 2009

Transaction Type
Debt Restructure

Transaction Value
$250 million

Lead Partner
Michael Gerrard
Telephone +1 305 424 3400

Background
BroadSpan acted as sole financial advisor to CAP CANA, S.A. - Hotels and Resorts in the $250 million debt restructuring, advising a creditor's committee of institutional bondholders.

What Difference Did We Make?
BroadSpan led negotiations for the Cap Cana Creditors Committee (comprising of 9 banks, insurance, and asset management companies located throughout the Caribbean, Latin American and the United States) with Cap Cana S.A. and their advisors during a six month corporate debt restructuring process. BroadSpan successfully negotiated the inclusion of significant additional favorable restructuring terms and exchange amendments for the Committee including higher collateralization ratios, mandatory note redemption clauses, advisory and legal expense reimbursement, more accountable receivables reporting and a pre-funded escrow account.