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Thomas. The purchase didn’t go through, but he stayed.
When ITT offered its Virgin Islands telephone business, Vitelco, for sale, he made an $87 million bid. Vitelco ignored the offer then, but six months later, it reconsidered. Prosser obtained 105% debt financing from E.F. Hutton & Co. Vitelco had no competition in the Virgin Islands and the Virgin Islands Public Service Commission guaranteed him an 11.5% return on his investment. Mr. Prosser refinanced in just one year, replacing the Wall Street loan with a $104 million loan from the Rural Telecommunications Finance Cooperative at a below-market rate...
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Common topics in this essay:
- Loan Modification
- BANK LOAN REQUEST FOR SMALL BUSINESS
- Business strategy : Australian Home Loan Market - (Distinaction paper)
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- MANAGING/ANALYZING LOAN REQUESTS, BUSINESS FEASIBILITY AND BORROWER’S CREDIBILITY
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