Cable Communications System (CCS), the parent company of Romania’s RCS&RDS is set to launch two bond issues worth €375 million and RON1.43 billion (€317 million).
Quoting the US agency Standard and Poor’s, ZF reports that the funds will be used to refinance debt and significantly reduce currency exposure.
The latter is particularly important, given that nearly 90% of the company’s revenues are sourced in Romanian lei and Hungarian forints.
The bond issues will keep RCS&RDS’s debt levels unchanged at €659 million.
Separately, quoting Moody’s, ZF reports that RCS&RDS had consolidated revenues of €793 million and EBITDA of €255 million in the year to June 2016.
RCS&RDS is the leading cable and DTH operator in Romania and also has a strong presence in Hungary’s pay-TV market.
