Romania's RCS & RDS talks €450 million seven-year notes at 7½%-7¾%; pricing Friday

By Christine Van Dusen

Atlanta, Oct. 25 - Romania-based telecom RCS & RDS SA set price talk at 7½% to 7¾% for an upsized €450 million issue of seven-year notes (B1), a market source said.

The deal, which is playing to both high-yield and emerging markets audiences, is expected to price Friday.

Erste Group, JPMorgan, Societe Generale and Unicredit Bank are the joint bookrunners for the Rule 144A and Regulation S deal.

Proceeds, along with proceeds from a new term loan and liquidity facility, will be used to refinance debt.

The issuing entity will be Cable Communications Systems NV, the controlling shareholder of RCS & RDS.

The Bucharest, Romania-based company provides telecommunications services in Romania and Hungary.

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