RCS & RDS pulls bond issue

Romanian pay-TV provider RCS & RDS has delayed a US$200m (€147m) bond issue because of difficult market conditions, according to various reports.

Citibank London had been trying to place the bonds, due to mature in 2017, at an interest of 9.75% and 10% in dollars, according to ratings agency Standard & Poor’s. However, the yield offered was not enough to tempt investors.

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