RCS&RDS has refinanced several loans and credit lines through a 7-year bond issue worth EUR450 million, as well as a EUR250 million loan and a EUR50 million credit line. Loans were granted by Citibank and ING, but more banks which have lent money to RCS&RDS group over the years decided to participate in the lending process.
RCS&RDS pledged 96.22% of its shares, 100% of Digi Czech Republic Sro shares, 100% of the shares of Digi Tavkozlesi es Szolgaltato Korlatolt Felelossegu Tarsasag and 78.49% of Digi Spain Telecom SLU shares.
Beside stocks, RCS&RDS also pledged bank accounts, commercial receivables, including subscription and intra-group contracts, intellectual property rights, its networks and equipment, the money in its bank accounts opened at lenders Alpha Bank, BCR, BRD -Groupe Societe Geneale, Banca Transilvania, as well as 46 invoice accounts opened at CEC Bank.
End-October, RCS&RDS launched a 7-year bond issue on external markets whereby it raised EUR450 million to refinance its current debts. The bond issue is due in 2020.
In May, RCS&RDS shareholders approved a plan to contract financing of up to EUR800 million to restructure debts totally or partially.
According to Trade Registry data, Cable Communications Systems owns 88.54% of RCS&RDS, and a 7.83% stake is controlled by the company itself. Cable Communications Systems is controlled by RCS Management, which is 60% owned by businessman Zoltan Teszari.
In 2011, RCS&RDS signed two financing agreements, a forward start syndicated loan of $206 million and a syndicated loan worth EUR125 million.
RCS&RDS is present in Romania, Hungary, the Czech Republic, Slovakia, Serbia, Spain and Italy.