Clifford Chance

Clifford Chance advised the banks in connection with CEC Bank's latest bond issue launched on the international markets, worth EUR 300 million

Clifford Chance Badea and Clifford Chance Frankfurt advised Erste Group Bank A.G. and ING Bank N.V., as Joint Lead Managers and Co-Arrangers, and BT Capital Partners, as Co-Manager, in CEC Bank's latest MREL bond issue which attracted EUR 300 million from international markets.

The team of lawyers coordinated by partners Cristina Freudenberger and Mădălina Rachieru-Postolache included Paulina Fecht (Associate), Felicitas Fischer (Transaction Lawyer) and Gabriel Toma (Senior Associate).

The transaction, which was oversubscribed more than twice by institutional investors, represents a new issue launched by CEC Bank within its multi-year EUR 1.5 billion Eurobonds programme (Medium Term Notes – MTN).

Not only were the Clifford Chance lawyers involved in the 2024 programme update, but also in the programme launch in 2023, as well as in the first successfully subscribed international issues. The law firm advised the arrangers in relation with the MTN programme implementation in February 2023, as well as in the subsequent issues.

Mădălina Rachieru-Postolache, Partner and Head of the Bucharest Capital Markets practice, says: "Congratulations to the CEC Bank team for another landmark transaction, which confirms the value and reputation of this representative Romanian financial institution on international markets. Clifford Chance Badea has promoted sophisticated financing instruments like the multi-year Eurobond programmes from the early years of the Romanian capital market. We are delighted to witness how the issuers' interest and quality is increasing year after year."