RCS & RDS in Romanian High-Yield Bond Issuance

November 4, 2013

Cleary Gottlieb represented RCS & RDS S.A. in the first Romanian high-yield bond issuance and the first international bond issuance by a Romanian non-bank corporate in more than ten years. The offering of €450 million of 7.50% Senior Secured Notes due 2020 launched on October 21, priced on October 25 and settled on November 4.

RCS & RDS is a leading provider of pay TV and telecommunications services in Romania and Hungary and has international operations in Spain, Italy and the Czech Republic. RCS & RDS’s service offerings include cable TV, fixed internet and data, fixed-line telephony, mobile telephony, mobile internet and data, and direct to home satellite television services.