Deals

Tricom / Grupo Financiero Nacional ("GFN")

Completion Date
April 2010

Transaction Type
Debt Restructure

Transaction Value
$740.7 million

Lead Partner
Orlando Chiossone
Telephone +571 317 4655

Background
BroadSpan Capital acted as exclusive advisor to Tricom's largest shareholder and creditor for this transaction.

Tricom S.A. operates as a telecommunications company in the Dominican Republic and the United States. It offers local, long distance, mobile, cable television, and broadband data transmission and Internet services. As of December 31, 2006, it had 183,975 local access lines in service, 465,910 mobile subscribers, 68,903 cable subscribers, and 21,464 data and Internet subscribers. The company was founded in 1988 and is based in Santo Domingo, Dominican Republic.

What Difference Did We Make?
BroadSpan, on behalf of GFN, led Tricom’s reorganization process. The restructuring process lasted over five years and involved very complex negotiations inn the Dominican Republic and the US, including a Pre-Package Chapter 11 under US law. BroadSpan subsequently advised GFN in its exit of its investment in Tricom. BroadSpan managed the sale and restructuring process simultaneously, maximizing value for GFN, allowing for a timely exit to their investment, and obtaining a number of governance and BOD provisions in favor of the client prior to the sale.