Clifford Chance

Clifford Chance Badea advised the banks in connection with Banca Transilvania's record RON 1.5 billion issue, its first sustainable bonds issuance in Romanian lei

A multi-jurisdictional team from the Clifford Chance Bucharest and London offices advised the arrangers BT Capital Partners, Banca Comercială Română, Raiffeisen Bank and Alpha Bank Romania in Banca Transilvania's successful first sustainable bonds issue in Romanian lei, which raised a record RON 1.5 billion.

The project was coordinated by Partner Radu Ropotă alongside a core team of lawyers including Cosmin Mitrică (Associate, Clifford Chance Bucharest), Kate Vyvyan (Partner, Clifford Chance London), and Russell Harris (Senior Associate, London).

Banca Transilvania's first issue of sustainable bonds in Romanian lei, which is also the largest such bond issue made in a single placement by a Romanian financial institution, adds to a track record of first-of-their-kind deals advised over the years by the Capital Markets practice of Clifford Chance Badea, and consolidates a long-standing relationship with an experienced and internationally recognized Romanian issuer.

In 2023, a team coordinated by Partner Mădălina Rachieru-Postolache advised the arrangers Morgan Stanley and BT Capital Partners in connection with the establishment of Banca Transilvania's first MTN Programme, of EUR 1 billion, as well as in relation to the inaugural offer of EUR 500 million launched within the programme.

Later on, the law firm advised the arrangers JP Morgan SE, Citigroup Global Markets Europe AG, ING Bank N.V and BT Capital Partners, as co-manager, in connection with the launch of Banca Transilvania's second MTN programme of EUR 1.5 billion and the bank's first ESG bonds issue of EUR 500 million.
In October 2024, the Clifford Chance lawyers advised the arrangers J.P. Morgan, Morgan Stanley, Nomura and ING Bank, and BT Capital Partners (as co-manager) in the transaction in which Banca Transilvania sold ESG bonds worth EUR 700 million on international markets.