Cleary Gottlieb represented J.P. Morgan Securities plc and Citigroup Global Markets Limited as representatives of the initial purchasers in a high-yield bond issuance by Cable Communications Systems N.V. of €350 million of 5.0 percent senior secured notes due 2023, guaranteed by RCS & RDS.
The transaction launched on October 10, 2016, priced on October 12, 2016, and settled on October 26, 2016.
Cable Communications Systems N.V. is the controlling shareholder of RCS & RDS, which is a leading provider of telecommunications services in Romania and Hungary and has international operations in Spain and Italy. RCS & RDS’s service offerings include cable and DTH television services, fixed internet and data, fixed-line telephony, mobile telephony, mobile internet and data, and direct to home satellite television services.