RCS&RDS launches EUR800m bond issue

28 Jan 2020

RCS&RDS has launched an offering of up to EUR800 million (USD882 million) of senior secured bonds maturing in 2025 and 2028. The notes will be offered in denominations of EUR100,000 and guaranteed by RCS&RDS, Digi Tavkozlesi es Szolgaltato Korlatolt Felelossegu Tarsasag (DIGI Hungary), Invitel Tavkozlesi (Invitel) and DIGI Spain Telecom (DIGI Spain). The offering will be used: to redeem the entire principal amount of EUR550 million of 2023 notes outstanding, as well as pay EUR22.3 million in redemption premiums and unpaid interest to holders; to pre-pay or repay EUR88.9 million outstanding under the group’s senior facilities agreement dated October 2016; to pre-pay the entire EUR73.4 million outstanding under the group’s senior facilities agreement dated February 2018; pay costs, expenses and fees in connection with the refinancing; and for general corporate purposes (which may include acquisitions).