The transaction targeted a bond issue worth EUR350 million and a syndicated loan worth up to RON1.687 billion, according to PeliFilip.
The bond issue is guaranteed by RCS & RDS S.A.
October 26, 2016 is set as the date for the issue of bonds which will be subsequently admitted to trading on the Irish Stock Exchange, on the Global Exchange.
Another part of the transaction consisted in RCS & RDS’ contracting on October 7 a syndicated loan worth RON1.687 billion and formed of three credit facilities. The main arrangers of the loan contract are BRD – Groupe Société Générale S.A., Citibank N.A., London Branch, ING Bank N.V. and UniCredit Bank S.A., while Citibank Europe plc, UK Branch, is the facility agent.
The funds obtained following the two financing operations were used for the early repayment of bonds worth a total EUR450 million, issued by Cable Communications Systems in 2013, as well as of some facilities contracted by RCS & RDS S.A. in 2015 and 2016, respectively. The amounts left available after the above-mentioned repayments will be used to finance the current operations of RCS & RDS S.A.