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Wolf Theiss Advises Banca Comerciala Romana on EUR 700 Million Green Issuance

Wolf Theiss Advises Banca Comerciala Romana on EUR 700 Million Green Issuance

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Wolf Theiss has advised Banca Comerciala Romana on its EUR 700 million issuance of fixed to floating senior non-preferred green eurobonds due 2027, under a multi-issuer EMTN program.

The notes were placed by joint lead managers Erste Group Bank AG, BNP Paribas, Citigroup Global Markets Europe, ING Bank, JP Morgan, and co-lead manager BCR. "The notes have a maturity of four years and may be redeemed three years after the date of issue. The denomination is EUR 100,000 per note. The notes are intended to be eligible for MREL (Minimum Requirement for Own Funds and Eligible Liabilities) purposes and will be listed on the Regulated Market of the Bucharest Stock Exchange and the Official Market of the Vienna Stock Exchange," the firm informed.

According to Wolf Theiss, "Banca Comerciala Romana has successfully closed its first issue on the international capital markets of senior non-preferred green eurobonds in the amount of EUR 700 million. This marks the largest corporate bond issue in the Romanian market and the first international issue of green eurobonds by a Romanian bank."

"BCR is the first bank in Romania to print a green eurobond issue, and the trading process has marked some firsts in the European banking industry," Banca Comerciala Romana CEO Sergiu Manea said. "These milestones confirm the recognition and trust BCR enjoys among investors, whether corporate or institutional, international, or local. We are glad that together with our partners, through the capital market, we can strengthen Romania's major growth opportunities and processes."

The Wolf Theiss team included Partners Claudia Chiper and Claus Schneider, Senior Associate Andreea Tudorache, and Associate Sebastian Prakljacic.

Wolf Theiss did not respond to our inquiry on the matter.

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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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