Romanian telecom company Digi Communications plans to raise another EUR 125 million by selling senior secured notes due in 2023 with a 5% yearly coupon.

The new offer will be consolidated and treated as a single class with the existing EUR 350 million senior secured notes due 2023, which the group issued in October 2016 and supplemented in June 2017 and June 2018, the company announced in a report to investors. The bonds are trading on the Irish Stock Exchange.

The company said that the gross proceeds of the offering would be used to repay in advance some loans contracted in previous years. Citigroup will intermediate the bond issue.

Digi Communications also reported positive adjustments in the net profits reported in the first nine months of 2017 and the same period of 2018. Thus, the net profit for the first nine months of 2018 increased to EUR 20.9 million from the previously reported EUR 18.9 million. The group's revenues were also slightly higher, at EUR 756 million.

Digi Communications is listed on the Bucharest Stock Exchange and has a market capitalization of EUR 578 million.

editor@romania-insider.com

(photo source: Facebook / Digi Romania)