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Clifford Chance Badea and Filip & Company Advise on Banca Transilvania EUR 500 Million Bond Issuance

Clifford Chance Badea and Filip & Company Advise on Banca Transilvania EUR 500 Million Bond Issuance

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Clifford Chance Badea has advised the arrangers on implementing the EUR 500 million bond issuance of Banca Transilvania. Filip & Company advised issuer Banca Transilvania.

According to Filip & Company, Banca Transilvania launched a EUR 1 billion bond issuance program that drew EUR 500 million from the international markets in its first issuance. "The first issue under the program consists of eligible four-year non-preferred MREL bonds to be listed on Euronext Dublin. The issue was led by Morgan Stanley as lead manager, with BT Capital Partners and ING Bank as managers," the firm informed.

"Banca Transilvania sold EUR 500 million in bonds on Friday, April 21, 2023, in an oversubscribed issue in just a few hours, with investors placing orders amounting to over EUR 850 million," BT's press release stated. "More than 80% of the total issue was subscribed by international investors from nearly 20 countries. Eighty investors – investment funds, financial institutions, pension funds, commercial and central banks, and insurance companies – subscribed to the offer, with the EBRD being the anchor investor with a subscription amounting to EUR 90 million."

The Clifford Chance Badea team was led by Office Managing Partner Daniel Badea and Partner Madalina Rachieru-Postolache and included Counsel Cosmin Anghel, Senior Associates Gabriel Toma and Madalina Mailat, and Lawyers Dorin Giurgi and Nicolae Grasu.

The Filip & Company team included Partners Alina Stancu Birsan and Alexandru Birsan, Senior Associate Rebecca Marina, and Associates Marius Gheldiu and Anca Badescu.

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Țuca Zbârcea & Asociații is a full-service independent law firm, employing cross-disciplinary teams of lawyers, insolvency practitioners, tax consultants, IP counsellors, economists and staff members. It also operates a secondary law office in Cluj-Napoca (Romania), and has a ‘best-friend’ agreement with a leading law firm in the Republic of Moldova. In addition, thanks to the firm’s dedicated Foreign Desks, the team provides the full range of services to international investors seeking to gain a foothold or expand their existing operations in Romania. Since 2019, the firm and its tax arm are collaborating with Andersen Global in Romania.

Țuca Zbârcea & Asociaţii is providing legal services in every aspect of business, covering all major areas of practice: corporate and M&A; litigation and international arbitration; corporate tax; public procurement; TMT; employment; insurance; banking and finance; capital markets; competition; healthcare and pharmaceutical; energy and natural resources; environmental; intellectual property; real estate; regulatory legal services.

Țuca Zbârcea & Asociaţii is a First-Tier law firm in all international legal directories and a multiple award-winning law firm both locally and internationally. It received the CEE Deal of the Year Award (DOTY Awards 2021) and the Law Firm of the Year Award: Romania (IFLR Europe Awards 2021). 

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