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Non-Tech : GTR Groupo triebasa.. Look at the chart.. A winner -- Ignore unavailable to you. Want to Upgrade?

To: JDGarza who wrote (121)	5/3/1999 11:11:00 AM
From: Amadeo Mendez-Vigo	Read Replies (1) \| Respond to of 214

No had not notice...??????????? Some old news you might have miss.... COMPANIES & FINANCE: THE AMERICAS: Tribasa aims for recovery in debt restructure Abstracted from Financial Times 04/22/99 By end-1999, construction company Grupo Tribasa (Mexico) aims to restructure or repay most of its debt. In 12/98, the company announced a restructuring plan for $550 mil in corporate debt, and so far it has cancelled almost half of it. Of the remaining debt, the bank is working to negotiate all but $25 mil of it with over 15 creditors. The negotiations would entail divestment of non-core assets and publicly listing projects in Mexico and Chile. In 1999, debt grew to $1.3 bil, including project financing. By end-1999, debt should be down to $270 mil, according to the company's vice president of finance Manuel Delgado. The company must still produce $40 mil/yr in surplus cash at a minimum, in order that the company can meet interest payments on debt, generate shareholder value and maintain business functions. The full text includes general discussion about the company's plans to reduce debt.

To: JDGarza who wrote (121)	5/3/1999 12:13:00 PM
From: Amadeo Mendez-Vigo	Respond to of 214

Juan...Here is full new that I posted in #122 COMPANIES & FINANCE: THE AMERICAS: Tribasa aims for recovery in debt restructure COMPANIES & FINANCE: THE AMERICAS: Tribasa aims for recovery in debt restructure Grupo Tribasa, Mexico's debt-ridden construction company, may be on the road to recovery with its plans to repay or restructure the bulk of the burden by the end of the year. The country's second largest builder has so far cancelled nearly half the Dollars 550m of corporate debt it pledged to pay down under a restructuring plan announced in December, said Manuel Delgado, vice-president of finance for Tribasa. All but Dollars 25m of the remaining amount is being negotiated with more than 15 creditors through the sale of non-core assets and the public listing of projects in Chile and Mexico. Including project financing, the debt reached Dollars 1.3bn last year. Mr Delgado estimates that by the end of 1999 Tribasa's corporate debt will be reduced to Dollars 270m, a figure that analysts say is more in keeping with a company of its size. Clinching Tribasa's financial comeback is the renegotiation of a Dollars 100m syndicated loan headed by Deutsche Bank and BankAmerica which came due in December. Market sources say that earlier this month Deutsche Bank agreed to a draft restructuring of the loan that would include a Dollars 60m standby loan from Bancomext, Mexico's foreign trade bank. Bancomext officials said a decision on whether to grant the loan guarantee would be made in the coming days. In the meantime, market analysts have begun recommending Tribasa's battered stock, which has plummeted from 40 pesos last August to just over 7 pesos. Tribasa, alongside the rest of the Mexican construction sector, is still recovering from the 1995 peso devaluation. Despite attempting its second restructuring since then and defaulting on a Dollars 26m debt just last month, Tribasa last week convinced a handful of Mexico's leading financial groups to inject Dollars 80m of new capital, part of a Dollars 186m rights issue. The price was judged right at 7 pesos a share but the bankers are also betting on Tribasa's impressive backlog of projects. These will grow as part of a new strategic alliance with Enron, the US energy giant. Enron, in addition to taking a likely Dollars 50m equity stake in Tribasa and providing future project capital, is said to be offering work on projects throughout Latin America worth some Dollars 400m. In return, Enron gains entry to nine Tribasa projects, including contracts to upgrade two petroleum refineries owned by Mexico's state-owned oil company, Pemex. More cautious market analysts say Tribasa still faces the challenge of generating a minimum surplus cash flow of Dollars 40m a year to make interest payments on its debt, sustain operations and create value for shareholders. JD if they can come through on this ...we could see a "Great 2000" Regards ...Amadeo