Romanian telco RCS&RDS has reportedly secured shareholder approval to take out loans of up to €800m for a term of up to ten years.
Shareholders at the telco’s recent general meeting voted unanimously in favour of the loans, Romanian newspaper Ziarul…
Romanian telco RCS&RDS has reportedly secured shareholder approval to take out loans of up to €800m for a term of up to ten years.
Shareholders at the telco’s recent general meeting voted unanimously in favour of the loans, Romanian newspaper Ziarul Financier (ZF) reported, citing an announcement in the nation’s Official Gazette.
RCS&RDS, indirectly controlled by businessman Zoltan Teszari, may seek one or more loans of up to €800m or its equivalent in another currency, the report stated. The loans can be obtained from banks, other financial institutions, Romanian or international investment funds and/or other private entities.
RCS&RDS was not immediately available for comment.
Reports emerged in early April that the company was seeking to refinance up to €800m 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.
The company also provides telecoms services in Spain, Italy, Hungary, Czech Republic, Slovakia, Croatia and Serbia.
