Subject: [NEXTEL-1] iDEN Carrier Tricom Secures $10 Million Financing

From: [email-masked]
Date: Sat, 20 Dec 2003 12:53:31 -0500

iDEN Carrier Tricom Secures $10 Million Financing

SANTO DOMINGO, Dominican Republic, Dec. 19 /PRNewswire-FirstCall/ --

Tricom, S.A. (NYSE: TDR) today announced that it has reached an agreement in
principle with a group of existing creditors led by Mizuho International, PLC, a
member of the Mizuho Financial Group, the world's largest banking group, to
obtain a secured $10 million credit facility intended to provide liquidity
financing to the Company while it pursues a financial restructuring plan.

"This facility will assist the Company with its short-term working capital needs
and provide sufficient financial flexibility to implement a financial
restructuring plan in a steadfast and prompt manner," said Carl Carlson, Chief
Executive Officer. "The Company expects to execute a restructuring that will
strengthen its capital base, increase stakeholder value, provide liquidity, and
enable the Company to assume its place as an industry leader. This is a strong
and positive first step toward achieving our objectives," added Carlson.
The one-year $10 million facility, secured by various Company assets, including
its Latin American and U.S.-based assets, will mature on December 31, 2004. All
transaction fees and interest amounts will be reserved from proceeds and placed
in an escrow account. Mandatory prepayments to the loan have been established
upon certain asset sales.

Under the proposed agreement, the Company has the ability, at its option, to
convert the loan to equity as part of a restructuring. In exchange, the
financing grants lenders specific options related to future equity investments
in Tricom, including rights of first refusal to provide up to $15 million of new
equity to fund operations.

    About TRICOM

Tricom, S.A. is a full service communications services provider in the
Dominican Republic. We offer local, long distance, mobile, cable television
and broadband data transmission and Internet services. Through Tricom USA, we
are one of the few Latin American based long distance carriers that is
licensed by the U.S. Federal Communications Commission to own and operate
switching facilities in the United States. Through our subsidiary, TCN
Dominicana, S.A., we are the largest cable television operator in the
Dominican Republic based on our number of subscribers and homes passed. We
also offer digital mobile integrated services including two-way radio and
paging services in Panama using iDEN(R) technology. For more information about
Tricom, please visit http://www.tricom.net

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