Romanian telco RCS&RDS has secured a €300m (US$409.37m) dual-tranche loan facility.
The facility consists of a €250m (US$341.14m) term loan with a five-year tenor and a €50m revolving credit facility with a three-year tenor.
Proceeds are to be…
Romanian telco RCS&RDS has secured a €300m (US$409.37m) dual-tranche loan facility.
The facility consists of a €250m (US$341.14m) term loan with a five-year tenor and a €50m revolving credit facility with a three-year tenor.
Proceeds are to be used for refinancing existing debt as well as for general corporate purposes.
ING and Citi were bookrunners and underwriters for the transaction, while Citi also acted as facility agent.
Last June, RCS&RDS reportedly won shareholder approval to take out loans of up to €800m for a term of up to ten years. The company signed another €300m loan facility, also consisting of a €250m term loan and a €50m RCF, with ING and Citi in November.
In October, Moody’s and Standard & Poor’s assigned provisional ratings of B1 and B+ respectively to a €350m (US$481m) proposed senior notes offering by the telco’s controlling shareholder, CableCommunications Systems (CCS). CCS is majority-owned by Romanian businessman Zoltan Teszari.
RCS&RDS provides telecoms services in Spain, Italy, Hungary, Czech Republic, Slovakia, Croatia and Serbia as well as Romania.
