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Creditflux Newsletter

February 2012

Article

Romanian cable company offers $200 million of notes
Monday, February 8, 2010

On Friday, Romanian cable company RCS/RDS announced an offering of $200 million unsecured notes due 2017. Proceeds of the sale, aimed at boosting the firm’s liquidity, will be used to refinance existing bank debt, acquisitions and capital expenditure. It is thought interest could exceed 8%.

S&P has assigned the notes a B corporate rating and a B+ notes rating, with the former likely to be raised if the offering is completed. Moody’s last week assigned a Ba3 rating to RCS/RDS.

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Recent bond & loan issuance

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CFlux secondary 
CLO index levels:

Index
6 Feb
CFlux USD AAA  ↑ 94.9
CFlux USD AA  ↓ 81.3
CFlux USD A  ↓ 75.0
CFlux USD BBB  ↑ 74.8
CFlux USD BB  ↑

72.1
CFlux USD EQ  ↑ 67.6

 

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