Dentons has advised CEC Bank on a EUR 300 million issuance of eligible senior non-preferential securities, intended to be classified as MREL-eligible instruments. Clifford Chance advised joint bookrunners and co-arrangers Erste Group Bank and ING Bank and co-manager BT Capital Partners.
The euro-denominated bonds were issued under CEC Bank's EUR 1.5 billion medium-term note program, approved by the Commission de Surveillance du Secteur Financier Luxembourg. The securities will be admitted to trading on the Luxembourg Stock Exchange and the Bucharest Stock Exchange.
In 2023, Dentons advised on CEC Bank's EUR 162 million note tap (as reported by CEE Legal Matters on November 27, 2023) as well as on the initial establishment of its EUR 600 million EMTN program and first two issuances in early 2023 (as reported by CEE Legal Matters on February 17, 2023). Moreover, the firm advised Raiffeisen Bank, BCR, and BRD on the City of Bucharest's RON 555 million bond issuance (as reported by CEE Legal Matters on May 10, 2024).
The Dentons team included Romania-based Partner Loredana Chitu, Associate Robert Alin Roca, and Paralegal Bogdan Galatanu as well as further team members in Germany.
The Clifford Chance team included Partners Cristina Freudenberger and Madalina Rachieru-Postolache, Senior Associate Gabriel Toma, Associate Paulina Fecht, and Lawyer Felicitas Fischer.
