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.