Romanian telco Digi redeems EUR 450 mln of bonds ahead of 2025 maturity
<p>Romanian telecommunications operator Digi Communications (BVB: DIGI) announced that, on September 16, the Romanian subsidiary of the group (Digi Romania) issued a notice of full redemption of the EUR 450 million bonds carrying a 2.5% coupon issued by the company in 2020 maturing in January 2025.&nbsp;The actual redemption date will be on September 27.</p>

<p>The redemption price of the notes is 100% of the principal amount plus accrued and unpaid interest from August 5, 2024 (the date of the latest coupon) to the redemption date (September 27), and additional amounts, if any.</p>

<p>Digi Romania (at that time RCS&amp;RDS) launched in 2020 senior secured bonds worth EUR 850 million with two maturities in 2025 and 2028, to refinance its 2027 bonds at a more favourable cost. It sold EUR 450 million worth of bonds due in 2025 with a yearly coupon of 2.5% and EUR 400 million worth of bonds due in 2028 with an annual coupon of 3.25%.</p>

<p>In H1/2024, Digi had consolidated revenues of EUR 474.7 million, 13.4% more compared to the same period of 2023, while its net profit rose to EUR 28.6 million from EUR 16 million.</p>

<p>Digi’s shares increased by 3.37% on September 16 after the note to investors was released, bringing the company’s market capitalization to RON 6.6 billion (EUR 1.3 billion).&nbsp;</p>

<p><em>iulian@romania-insider.com</em></p>

<p><em>(Photo source: the company)</em></p>