Kinstellar Advises A Syndicate Of Leading Banks On A EUR 500 Million Senior Facility Granted To RCS & RDS In Romania

Kinstellar, together with Linklaters LLP, has successfully advised a syndicate of leading banks—led by ING Bank N.V., London Branch and comprising ING Bank N.V., Citigroup Europe plc Dublin – Romania Branch, UniCredit Bank S.A., Raiffeisen Bank S.A., BRD – Groupe Société Générale S.A., and ING Bank N.V. Amsterdam, Bucharest Branch—on a EUR 500 million senior facility agreement granted to Romanian telecommunications service provider RCS & RDS.

The loan consists of a term loan in the amount of EUR 150 million, a revolving loan in the total amount of EUR 100 million, and one or more additional facilities in an aggregate amount of up to EUR 250 million with a maturity of up to five years.

The amount will be used by RCS & RDS, the leading Romania-based paid television and telecommunications provider (and part of Dutch-registered Digi Communications N.V.) for debt refinancing and to address its needs in terms of capital expenditure, general corporate and working capital purposes.

Kinstellar in Romania was previously involved as an advisor on various iterations of this transaction from 2016, and thus was thoroughly involved in preparing the financing documentation, dealing with Romanian security aspects and advising on the fullfilment of all security perfection measures (registrations, notifications, etc.) required under Romanian law.

Kinstellar's team was led by Magdalena Răducanu (Special Counsel and Head of our local Banking team) and included Răzvan Constantinescu (Managing Associate), Adelina Seserman and Cosmin Mitrica (Associates).

Magdalena Răducanu comments:

For more information on Kinstellar's banking and finance expertise in Romania, please contact Magdalena Răducanu at magdalena.raducanu@kinstellar.com.