Romania-based telco and DTH firm RCS&RDS is reportedly seeking to refinance up to €800m of existing debt.
The board of directors of the company, indirectly controlled by businessman Zoltan Teszari, has scheduled ordinary and extraordinary…
Romania-based telco and DTH firm RCS&RDS is reportedly seeking to refinance up to €800m of existing debt.
The board of directors of the company, indirectly controlled by businessman Zoltan Teszari, has scheduled ordinary and extraordinary shareholders’ meetings in May to discuss the refinancing, reported the Ziarul Financiar newspaper, citing the agenda for the EGM.
The agenda reportedly states that the funding, which would have a maturity of 10 years or less, could be obtained from banks, other financial institutions, Romanian or international investment funds and/or other private entities. It notes that the company could sign one or more financing agreements or raise the funds via international capital markets or bonds.
The agenda also notes that the funds will be used to repay all or part of existing debt.
According to the Romanian trade register, Cable Communications Systems Netherlands is RCS&RDS’ largest shareholder with an 88.54% stake. Zoltan Teszari’s RCS Management owns nearly 60% of Cable Communications.
RCS&RDS was not immediately available for comment.
In March the company sold its Croatian DTH arm Digi TV to Telecom Austria for an undisclosed sum. Digi TV, which reported €2m in 2012 revenues, was launched by the operator back in November 2006.
RCS&RDS also provides services in Spain, Italy, Hungary, Czech Republic, Slovakia, and Serbia.
