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Clifford Chance and Filip & Company Advise on Romania's Issuance of Green and Conventional Bonds Totaling EUR 4 Billion

Clifford Chance and Filip & Company Advise on Romania's Issuance of Green and Conventional Bonds Totaling EUR 4 Billion

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Clifford Chance has advised the arranging banks – Citi, Erste, HSBC, JP Morgan, and Societe Generale – on Romania's first issuance of green bonds, to the tune of EUR 2 billion, and simultaneous EUR 2 billion issuance of conventional bonds. Filip & Company, working with Linklaters, advised Romania's Ministry of Finance.

According to Clifford Chance, Romania launched its Green Bond Framework program with the first EUR 2 billion tranche of bonds due in 2036, while the conventional notes are due in 2031. "Romania's Green Bond Framework has been developed by the Ministry of Finance with technical assistance from the World Bank and external advice from investment banks Citibank and HSBC."

"Through this show, Romania strengthens its position in the global fight against climate change and supports projects with a positive impact on the environment," Filip & Company Partner Monica Statescu commented. "Green bonds represent not only a financial initiative but also a firm commitment to sustainability and social responsibility."

The Clifford Chance team included Bucharest-based Partner Madalina Rachieru-Postolache, Counsel Cosmin Anghel, and Associate Nicolae Grasu, with further team members in London and the US.

The Filip & Company team included Statescu and Partner Alexandru Birsan, Senior Associate Andreea Banica, and Associate Andrei Anghel.

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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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