RCS&RDS secures new funding
Published: 03.37 UTC, March 9, 2011 by Chris Dziadul

Romania RCS&RDS has secured two financing agreements worth a total of $368 million (€264 million).

According to ZF, the first, which is for $206 million, is a syndicated loan obtained from ING Bank, Unicredit Bank Austria, Raiffesen Bank International, Royal Bank of Scotland and BRD-Groupe Société Générale, while the second is for €125 million, with both being guaranteed by Cable Communications Systems of The Netherla$$$.

The credit on the former covers a maximum payment of $278 million, and that on the latter a maximum of €162.5 million.

RCS&RDS has funded its expansion to become the leading cable and DTH operator in Romania, as well as a key player in the TV markets of five other CEE countries, largely through bank loans, especially from ING.

It is currently reported to be interested in buying UPC Romania from Liberty Global.