RCS&RDS aims to obtain EUR 800mln financing

Newsroom 08/04/2013 | 13:15

RCS&RDS intends to obtain financing of up to EUR 800 million for at most ten years and does not rule out the possibility of attracting new shareholders, according to Mediafax newswire.

The funds will be used for totally or partially restructuring the company’s current financing commitments.

At the beginning of 2011, RCS&RDS took up a syndicated loan of USD 206 million for paying some loans it had pending, and an additional syndicated loan of EUR 125 million.

In the first part of May, RCS&RDS shareholders will hold two meetings to discuss the possibility to attract financing up to a total of EUR 800 million for a period no longer than 10 years.

“Such financing can be obtained from banks, financial institutions, investment funds- either Romanian or international- and/or any other private entities (affiliated or third parties), including- and without limiting itself to- signing one or more financing contracts, as well as through international capital markets, including- and without limiting itself to- issuing bonds,” according to the first point in the call for the shareholders’ meeting, quoted by Mediafax.

Cable Communications Systems Netherlands is the main shareholder in RCS&RDS, with 88.54 percent stake in RCS&RDS, while RCS&RDS controls a 7.83 percent share package.

Businessman Zoltan Teszari indirectly controls RCS&RDS, Thus, Teszari has a 60 percent stake in RCS Management, which runs Cable Communications Systems.

 Otilia Haraga

 

 

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