RCS & RDS seeks to borrow $200m from ING

Romanian cable TV and telecommunications company RCS & RDS wants to take out a loan worth 200 million dollars (some 157 million euros) from ING Bank N.V. Amsterdam, according to information published in the Official Gazette. The company is also interested in getting part of the loan from other banks it works with, with the credit to be used to refinance the loan taken from the ING Bank N.V. Amsterdam, The Royal Bank of Scotland on December 25 last year, as well as guarantee contracts that come with it, the Official Gazette adds. Contacted by ZF, RCS & RDS officials did not wish to provide further details for the time being. In Romania, RCS & RDS has over 1.2 million subscribers for its television services (cable and satellite), over 250,000 subscribers for Internet access services and over 350,000 other subscribers for telephony services, according to company estimates. The company, however, anticipates 400,000 subscribers for Internet services by the end of this year.