UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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SCHEDULE 13G
Under the Securities Exchange Act of 1934
FirstCom Corporation
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(Name of issuer)
Common Stock, Par Value $0.001
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(Title of class of securities)
00033763T1
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(CUSIP number)
June 30, 1999
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(Date of Event which requires filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this
schedule is filed:
( ) Rule 13d-1 (b)
(x) Rule 13d-1 (c)
( ) Rule 13d-1 (d)
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CUSIP No. 13G
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1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
General Electric Capital Corporation
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) ( )
(b) ( )
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3 SEC USE ONLY
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4 CITIZENSHIP OR PLACE OF ORGANIZATION
New York
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NUMBER OF SHARES 5 SOLE VOTING POWER
0
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BENEFICIALLY OWNED BY SHARED VOTING POWER
6 1,250,000
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EACH SOLE DISPOSITIVE POWER
REPORTING 7 0
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PERSON WITH SHARED DISPOSITIVE POWER
8 1,250,000
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9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,250,000
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10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
CERTAIN SHARES ( )
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11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
5.81%
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12 TYPE OF REPORTING PERSON
CO
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CUSIP No. 13G
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1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
SFG-N INC.
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) ( )
(b) ( )
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3 SEC USE ONLY
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4 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
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NUMBER OF SHARES 5 SOLE VOTING POWER
0
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BENEFICIALLY OWNED BY SHARED VOTING POWER
6 1,250,000
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EACH SOLE DISPOSITIVE POWER
REPORTING 7 0
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PERSON WITH SHARED DISPOSITIVE POWER
8 1,250,000
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9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,250,000
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10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
CERTAIN SHARES ( )
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11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
5.81%
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12 TYPE OF REPORTING PERSON
CO
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Item 1(a). Name of Issuer:
FirstCom Corporation (the "Issuer")
Item 1(b). Address of Issuer's Principal Executive Offices:
The address of the Issuer's principal executive offices is 220
Alhambra Circle, Suite 910, Coral Gables, Florida 33134
Item 2(a). Name of Person Filing:
This statement is filed on behalf of General Electric Capital
Corporation ("GECC") and SFG-N, Inc. ("SFG-N" and, together with GECC, the
"Reporting Persons").
Item 2(b). Address of Principal Business Office or, if none, Residence:
The principal place of business of GECC is 260 Long Ridge Road,
Stamford, Connecticut 06927.
The principal place of business of SFG-N is c/o GE Capital
Services Structured Finance Group, Inc., 120 Long Ridge Road, Stamford,
Connecticut 06927
Item 2(c). Citizenship:
The place of incorporation of each of the Reporting Persons is
set forth on the applicable cover page.
Item 2(d). Title of Class of Securities:
The title of the securities is common stock, par value $0.001
per share (the "Common Stock").
Item 2(e). CUSIP Number:
The CUSIP number of the Common Stock is set forth on the cover
page.
Item 3. If this statement is filed pursuant to Rules 13d-1(b), or
13d-2(b) or (c), check whether the person filing is a:
(a) ( ) Broker or dealer registered under section 15 of the Act;
(b) ( ) Bank as defined in section 3(a)(6) of the Act;
(c) ( ) Insurance Company as defined in section 3(a)(19) of the
Act;
(d) ( ) Investment Company registered under section 8 of the
Investment Company Act of 1940;
(e) ( ) An investment adviser in accordance with Rule 13d-1
(b)(1)(ii)(E);
(f) ( ) An employee benefit plan, or endowment fund in
accordance with Rule 13d-1 (b)(1)(ii)(F);
(g) ( ) A parent holding company or control person in accordance
with Rule 13d-1 (b)(1)(ii)(G);
(h) ( ) A savings association as defined in section 3(b) of the
Federal Deposit Insurance Act;
(i) ( ) A church plan that is excluded from the definition of an
investment company under section 3(c)(14) of the
Investment Company Act of 1940;
(j) ( ) Group, in accordance with Rule 13d-1 (b)(1)(ii)(J).
If this statement is filed pursuant to Rule 13d-1 (c), check this
box. (x)
Item 4. Ownership.
(a) Amount beneficially owned:
Each of the Reporting Persons beneficially owns the amount
of the Common Stock as set forth on the applicable cover page.
Such beneficial ownership arises out of SFG-N's ownership of
1,250,000 shares of Series A Convertible Preferred Stock, par
value $0.001 per share (the "Preferred Stock") of the Issuer,
which is convertible into the Common Stock of the Issuer at
SFG-N's option.
(b) Percent of class:
Each of the Reporting Persons beneficially owns the
percentage of the Common Stock as set forth on the applicable
cover page.
(c) Number of shares as to which such person has:
(i) sole power to vote or to direct the vote:
None.
(ii) shared power to vote or to direct the vote:
Each of the Reporting Persons has the shared power
to vote or direct the vote of the Common Stock as set
forth on the applicable cover page.
(iii) sole power to dispose or to direct the disposition
of:
None.
(iv) shared power to dispose or to direct the
disposition of:
Each of the Reporting Persons has the shared power
to dispose or direct the disposition of the Common
Stock as set forth on the applicable cover page.
Item 5. Ownership of Five Percent or Less of a Class.
Not applicable.
Item 6. Ownership of More than Five Percent on Behalf of Another Person.
Not applicable.
Item 7. Identification and Classification of the Subsidiary Which Acquired the
Security Being Reported on by the Parent Holding Company.
SFG-N, the beneficial owner of the Common Stock, is an indirect,
wholly-owned subsidiary of GECC.
Item 8. Identification and Classification of Members of the Group.
Not applicable.
Item 9. Notice of Dissolution of Group.
Not applicable.
Item 10. Certification.
By signing below I certify that, to the best of my knowledge and
belief, the securities referred to above were not acquired and are not held for
the purpose of or with the effect of changing or influencing the control of the
issuer of the securities and were not acquired and are not held in connection
with or as a participant in any transaction having that purpose or effect.
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SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this statement is true, complete and
correct.
Dated: July 8,1999
GENERAL ELECTRIC CAPITAL CORPORATION
By:/s/Robert L. Lewis
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Name: Robert L. Lewis
Title: Senior Vice President
EXHIBIT 1
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Consent of SFG-N Inc.
The undersigned agrees that the Schedule 13G executed by General
Electric Capital Corporation to which this statement is attached as an exhibit
is filed on behalf of General Electric Capital Corporation and SFG-N Inc.
pursuant to Rule 13d-1(k)(1) of the Securities Exchange Act of 1934.
Dated: July 8, 1999
SFG-N INC.
By:/s/Gaurav Raniwala
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Name: Gaurav Raniwala
Title: Vice President
