Clifford Chance

Clifford Chance advises Electrica on its €500 million inaugural bond issuance, the first green bond issued by a Romanian corporate

Global law firm Clifford Chance has advised energy company Societatea Energetică Electrica S.A. (“Electrica”) on its landmark first-ever bond offering. An amount equal to the net proceeds will be allocated to finance environmentally sustainable projects such as the development of renewable electricity production capacities and energy storage capacities, furthering its commitment to the energy transition. The bonds were listed on the Luxembourg Stock Exchange and, beginning of August, will be listed on the Bucharest Stock Exchange, marking the largest corporate green bond issuance by a non-financial institution in Romania to date.

Clifford Chance has a strong track record advising on capital markets transactions across Central and Eastern Europe, including recent work on sovereign and corporate bond issuances in Romania, Poland, and Hungary. The firm is consistently ranked Band 1 for Capital Markets in Chambers Europe and Legal 500 and has advised on several award-winning ESG financings in the region.

The Clifford Chance team advising Electrica was led by partners Kate Vyvyan and Madalina Rachieru-Postolache, supported by counsel Gabriel Toma, senior associates John Thomson and Nicolae Grasu, and associates Martha Busuiocescu , Cosmin Mitrica, and Simina Sovi. The matter involved collaboration across the firm’s London and Bucharest offices, showcasing its integrated cross-border capabilities.