Subject: [NEXTEL-1] Tricom studying asset sale, chapter 11

From: [email-masked]
Date: Sun, 28 Sep 2003 13:18:51 -0400

Tricom studying asset sale, chapter 11
September 22, 2003 6:14pm
BNamericas.com

Dominican Republic multi service provider Tricom (NYSE: TDR) is planning to sell
assets and file for chapter 11 bankruptcy protection, Panamanian daily Capital
Financiero quoted Tricom investor relations vice president Miguel Guerrero as
saying.

Several regional and international operators that use Motorola's iDEN digital
trunking technology have already approached Tricom about the sale of its
Panamanian assets, Guerrero said, without revealing names.
Tricom had planned to use its Panamanian operations as a launchpad for expansion
to the rest of Central America, and the company already has licenses to operate in
Guatemala and El Salvador.

On September 2, Tricom missed a US$11.4mn interest payment related to US$200mn of
11.375% senior notes due 2004. At the time, Tricom said it is renegotiating the
notes and had hired US investment bank Bear Stearns to come up with financial
strategies.

The company blamed "adverse economic conditions" and the devaluation of the
Dominican peso, which have affected operating results and the company's ability to
purchase US dollars to service principal and interest on its debt obligations.

http://www.hoovers.com/free/news/detail.xhtml?ArticleID=NR200309223200.1_9c4f0003cdf6f8a3

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