Filip & Company law firm assisted Banca Transilvania in relation to its first sustainable bond issue denominated in Romanian lei, worth RON 1.5 billion. The transaction was successfully completed and marks a historic moment on the local capital market, being the largest sustainable bond issue in Romanian lei carried out by a Romanian bank in a single placement.
The issue consisted of senior unsecured bonds with a 7-year maturity, a buyback option after 6 years and bearing a coupon of 8.875%. The minimum subscription was RON 600,000.
“This issue is a first on the local market from several perspectives – it is the first sustainable bond issue in lei launched by the bank and, also, the largest ever made in a single placement by a Romanian financial institution, setting new standards for the local capital market in terms of size, and in terms of structure and sustainable objectives. In a context where investors are increasingly mindful of ESG criteria and issuers’ sustainable commitments, Banca Transilvania has confirmed its ability not only to adapt but also to innovate. Diversifying funding sources through socially and environmentally responsible products proves long-term strategic vision. We thank the Banca Transilvania team for their trust and excellent collaboration”, said Alexandru Bîrsan, managing partner at Filip & Company.
The Filip & Company team that assisted Banca Transilvania on this transaction was coordinated by Alexandru Bîrsan (managing partner) and included Olga Niță (partner), Anca Bădescu (senior associate), Bianca Gheorghe (associate) and Raluca Biță (associate).
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.
