Filip & Company law firm has assisted the consortium formed by Banca Comercială Română S.A., BNP PARIBAS, Citigroup Global Markets Europe AG, ING Bank N.V., J.P. Morgan SE, Raiffeisen Bank International AG, BT Capital Partners S.A., Intesa Sanpaolo S.p.A., Société Générale and UniCredit Bank GmbH in relation to the first green bond issue of Societatea Energetică Electrica S.A. (“Electrica”) in amount of EUR 500 million.
The unsecured bonds, maturing in five years, have been issued at a competitive price of 4.566% (MS + 230 bps), and the proceeds will be used to finance and/or refinance green projects eligible under Electrica’s Green Financing Framework.
“This transaction marks one of the largest green bond issues ever by a corporate issuer in Romania, and the significant oversubscription reflects the investors’ growing interest in well-structured sustainable projects and solid local issuers. We were delighted to support the banking syndicate in this transaction and thank our clients for their trust and excellent cooperation”, said Olga Niță, partner at Filip & Company.
The Filip & Company team that assisted the consortium on this transaction was coordinated by Alexandru Bîrsan (managing partner) and Olga Niță (partner) and included Bianca Gheorghe (associate) and Raluca Biță (associate).
Banca Comercială Română S.A., member of Erste Group (“BCR”), BNP PARIBAS, CITI, ING, J.P. Morgan and Raiffeisen Bank International acted as Joint Global Coordinators, and BT Capital Partners, IMI-Intesa Sanpaolo, Societe Generale and UniCredit Joint Bookrunners acted as Joint Bookrunners in this transaction.
Over the last years, Filip & Company was successfully involved in many benchmark transactions on the Romanian capital market, whether they were share or bond offers, as well as in all the bond issues of the Romanin State on the external markets. The Filip & Company lawyers are ranked first in the most prestigious international directories – Chambers and Partners, Legal 500 and IFLR in the Capital Markets practice, both as a team as well as individually, and Alexandru Bîrsan is included in the Legal 500’s “Hall of fame” for this practice area.