Romanian telco and DTH provider RCS&RDS is seeking to raise €500m through a new bond issue, according to local reports.
The Bucharest-based company has hired a consortium of banks to arrange the transaction, Romanian newspaper Ziarul Financier (ZF)…
Romanian telco and DTH provider RCS&RDS is seeking to raise €500m through a new bond issue, according to local reports.
The Bucharest-based company has hired a consortium of banks to arrange the transaction, Romanian newspaper Ziarul Financier (ZF) reported. The paper cited unnamed sources as saying JP Morgan is leading the consortium. Banca Comerciala Romana (BCR), a subsidiary of Austrian financial services firm Erste Group is also said to be involved in the financing.
RCS&RDS was not available for comment.
ZF has previously reported that the company – Romania’s largest cable and satellite TV and alternative fixed-line phone provider – had received shareholder approval at its May AGM to raise up to €800m in fresh financing in order to refinance its existing debt.
According to the Romanian trade register, Cable Communications Systems Netherlands is RCS&RDS’ largest shareholder with an 88.54% stake. In turn Cable Communications is 60% owned by Romanian businessman and IT entrepreneur Zoltan Teszari’s RCS Management.
RCS&RDS operates in several eastern and southern European states, also including Spain, Italy, Hungary, the Czech Republic and Serbia.
