Tricom has received a loan for US$60 million to finance its current capital investment plans with favorable conditions, including a 27 month period of grace for the capital repayments. The monies have been lent at the preferential interest rate of the Carifa bonds in Puerto Rico. Some US$28 million will enter the Dominican system, through the Central Bank, thus adding to the country’s international reserves.
The loan is being made by a syndicate made up of the ING Bank from Holland, the Chase Manhattan Bank, the Bank of Novia Scotia and the Creditatlast-Bankverien. Tricom has already invested over US$1,800 million in its telecommunications business in this country. The injection of new capital will bring its investment to over US$2,000 million. Tricom is a joint venture between the Grupo Financiero Nacional of the Dominican Republic (60% shares) and Motorola of the United States (40%).