client_transactions

SSG Client Transactions

Title

Orion Telecommunications Corp.
Client Profile

Client Profile

Orion Telecommunications Corp. ('Orion' or the 'Company') was a major provider of international and domestic prepaid calling cards in the United States, providing telephone access from the U.S. to more than 200 countries. The Company directed marketing resources towards difficult to reach immigrant populations, particularly the large and fast growing Hispanic market.
Situation

Situation

As a result of a rapid increase in sales which could not be supported by the Company's existing capital structure, Orion filed for Chapter 11 bankruptcy protection. Concurrent with the filing, the Company commenced an expense reduction program and operational turnaround.
Solution

Solution

SSG was retained by Orion with the mandate of assisting the Company through its court proceeding and evaluating the Company's strategic alternatives, including a restructuring or a sale of part or all of the Company. Ultimately, a Section 363 sale process resulted in a transaction whereby the senior bank group was the winning bidder, and closed in March 2005.
March 2005
Orion Telecommunications Corp.
Debtor-in-Possession
has been sold
Under Section 363 of the U.S. Bankruptcy Code
in the U.S. Bankruptcy Court for the
Southern District of New York.
The undersigned acted as Investment Banker to
Orion Telecommunications Corp. on this transaction.

Call to learn more

Call to learn more

If you would like to learn more about this transaction, or any of our transactions, call us today.

Philadelphia
(610) 940-1094

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New York
(212) 786-7432

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