RCS&RDS could issue bonds of up to USD 200 million

“The bonds will have a maturity that will not surpass ten years and the administration board is authorized to agree on the possibility of a facility for anticipated reimbursement entirely or in part by the company. The bond issuance will be offered for subscription to international investors, including – but without being limited to – institutional investors,” said company officials. The shareholders will also discuss obtaining authorization for RCS&RDS to redeem up to 21,103,200 of its own shares. The minimum and maximum price will be established during the meeting. In 2008, RCS&RDS posted a net turnover of RON 1.4 billion and losses of RON 84.36 million and had debts of RON 2.25 billion, according to data from the Ministry of Finance site. The company has an aggressive pricing policy and is currently expanding its mobile internet network, which should be functional all over the country in December.  The firm’s shareholders are Cable Communications Systems from the Netherlands with 88.9 percent of shares, RCS&RDS with 5.04 percent, businessman Zoltan Teszari who holds 2.03 percent and Csaba Ianos Ludescher, with 1.1 percent, as well as other individuals with participations of less than 1 percent. 
Otilia Haraga