Romanian RCS & RDS plans to borrow EUR 270 million

Local telecom group RCS & RDS wants to borrow some EUR 270 million from a group of banks which include lenders UniCredit, ING Bank, Citibank and BRD. The company will use the money to refinance previous loans, according to market sources, cited by the mergers & aquisitions journal mirsanu.ro. In 2013, RCS & RDS took a loan of EUR 250 million, which is due in 2018, and a financing line for working capital worth EUR 50 million, from ING Bank & Citibank. The operator periodically refinances its older loans and secures the financing of its expansion plans. RCS & RDS, together with oil & gas company OMV Petrom, is one of the few companies banks seem to court, due to its stable level of income, the business model that constantly generates cash and the attractive profit margin. editor@romania-insider.com