RCS&RDS sells EUR 450mln in 7 year bonds

Newsroom 29/10/2013 | 12:48

Romanian telecom group RCS & RDS sold EUR 450 million (USD 618.8 million) in seven-year secured notes on foreign markets at a 7.5 percent yield, Erste Group Research stated on Monday, quoted by Seenews.com

When asked by Business Review, an Erste spokesperson declined to comment the information.

RCS & RDS was due to launch on October 29 a bond issue on external markets in order to attract financing worth EUR 350 million which will be used to refinance its current debts, according to Mediafax newswire.

The debts, which at the end of last year totaled EUR 838.3 million, will be paid using the bonds which come to maturity in 2020, along with a new loan and liquidity line.

JPMorgan was the global coordinator of the operation. Erste Group, SocGen and UniCredit Bank acted as arrangers.

In May, the shareholders of RCS&RDS approved taking up financing of up to EUR 800 million for a period of at most 10 years.

Otilia Haraga


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