August 31 (SeeNews) - Romanian telecoms group RCS&RDS is looking for a 600 million euro ($670 million) 10-year financing for debt restructuring.
The company's shareholders will decide on October 3 on the financing method, RCS&RDS said in an announcement published in Romania's official gazette on Tuesday.
Such funding can be obtained both through the international and/or local capital market, including but not limited to the issuance of bonds and/or other debt instruments and/or debt from Romanian or international banks, financial institutions, investment funds, and/or any other private entities, the company noted. The financing could be raised in one or more tranches, it added.
At end-2015, RCS&RDS had debts of 4.44 billion lei ($1.1 billion/993 million euro), up 2% year-on-year.
In 2013, the group placed a 450 million euro 7-year secured bond issue on foreign markets at a yield of 7.5%.
In April, the company said it plans to invest 150 million euro in infrastructure in 2016 and that is considering a bourse listing and a new bond issue.
RCS&RDS is the largest Romanian cable and Internet provider, offering nationwide satellite and cable television, cable internet, VoIP and 3G services. It is also active in Hungary, Spain and Italy.
(1 euro=4.4488 lei)