Telecom company RCS & RDS takes USD 368 mln syndicated loan

Romanian telecom operator RCS&RDS has taken two loans worth a total of USD 368 million to pay off previous debts and cover future investments, according to newswire Mediafax. A group of banks made of ING Bank NV, Unicredit Bank Austria AG, Raiffeisen Bank International AG, Royal Bank of Scotland NV si BRD- Groupe Société Générale offered a syndicated loan of USD 206 million to RCS & RDS. Another EUR 125 million loan was offered by a group of banks made of Fortis Bank SA/NV Bruxelles the Bucharest Branch, Royal Bank of Scotland PLC and Unicredit Tiriac Bank. According to Romanian media, the company is close to buying rival company UPC, which would require over USD 300 million. According to media reports, the two companies are currently negociationg the takeover. A special commission has been created in the Telecommunication Ministry in Romania to evaluate the possible takeover, according to Telecom Minister Valerian Vreme. RCS & RDS has 9 million users of cable, internet, satellite TV, mobile and fixed telephony services. The company is controlled by Romanian businessman Zoltan Teszari. It was created 15 years ago and operates on the Romanian market, as well as in Hungary, the Czech Republic, Slovakia, Croatia and Serbia. editor@romania-insider.com