Tricom recapitalisation
Babcock & Brown has increased it’s existing exposure of $35m to a maximum
of $40m through underwriting a further $5m of additional funding. That
maximum exposure has already been reduced to $37.5m. Babcock & Brown’s
total exposure remains secured and no further capital injection by Babcock &
Brown is contemplated following the recapitalisation.
Whilst Babcock &
Brown retains a secured interest over the whole business, Babcock & Brown
expects to fully recover its entire exposure to Tricom through the sale of
Tricom’s non-core assets while retaining an option to participate in any
equity upside in Tricom’s stock broking business.
Babcock & Brown confirms that no senior Babcock & Brown executives have
any margin loans or security lending arrangements with Tricom.
positive ann
gunn
BNB
babcock & brown limited
