Romanian telco RCS&RDS reportedly aims to raise €500m in a bond issue.
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…
Romanian telco RCS&RDS reportedly aims to raise €500m in a bond issue.
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. Austrian Erste Group is also said to be involved.
RCS&RDS was not immediately available for comment.
Last month, ZF reported that the company – Romania’s largest cable and satellite TV and alternative fixed-line phone provider – had received shareholder approval to take out loans of up to €800m or its equivalent in another currency. Earlier reports stated the company was seeking loans of this amount to refinance existing debt.
According to the Romanian trade register, Cable Communications Systems Netherlands is RCS&RDS’ largest shareholder with an 88.54% stake. Romanian businessman Zoltan Teszari’s RCS Management owns nearly 60% of Cable Communications.
RCS&RDS operates in several eastern and southern European states, also including Spain, Italy, Hungary, the Czech Republic and Serbia.
