Dentons assisted BRD – Groupe Société Générale and Raiffeisen Bank Romania acting as underwriters in the private placement of the municipal bond issue with a total nominal value of RON 555 million (approximately EUR 110 million) meant to refinance existing bonds maturing on May 4, 2022.

Partner Loredana Chitu, Head of Dentons’ Capital Markets team in Bucharest, coordinated the transaction, assisted by Stefi Ionescu(senior associate) and Alin Roca (associate).

Loredana Chitu commented, “I was privileged to have been part of yet another landmark transaction and to witness how the professionalism and dedication of these two banks, together with the impressive efforts of the issuer’s team, have led to a very successful closing under complex conditions, in a very tight timeline and by setting several legal firsts. Dentons continues to be mandated on high profile and high value equity and debt capital markets transactions, showing the capabilities and resources of our Bucharest practice to deliver complex advice and assist impactful capital markets projects.”

Managing Partner, Perry V Zizzi, mentioned “It is a crucial bond issuance by the Bucharest Municipality that calms investors and demonstrates the resilience of Romania's debt capital markets.”

This transaction emphasizes Dentons’ continuous dedication to support the development of the Romanian capital markets.