The transaction was arranged by Banca Comerciala Romana (BCR), BNP PARIBAS, Citi, ING, J.P. Morgan, and Raiffeisen Bank International AG (as Joint Global Coordinators) and BT Capital Partners, IMI – Intesa Sanpaolo, Société Générale and UniCredit (as Joint Bookrunners).
The project team included Madalina Rachieru-Postolache (Partner), Gabriel Toma (Counsel), Nicolae Grasu (Senior Associate), Martha Busuiocescu and Cosmin Mitrica (Associates) from Clifford Chance Bucharest, and Kate Vyvyan (Partner), John Thompson (Senior Associate) and Simina Sovi (Associate) – Clifford Chance London.
“More than ten years after its dual listing on the Bucharest and London Stock Exchanges, Electrica marks another historic moment for its development strategy, while also becoming an international benchmark for Romania’s sustainability and corporate governance efforts,” said Partner Madalina Rachieru-Postolache.
The Clifford Chance lawyers provided advice throughout the entire project, from drafting the prospectus, reviewing and negotiating contracts, assisting in discussions with various potential investors, communicating with all parties involved, including support in communication with regulators.
Electrica Group, whose majority owner is the Romanian government, raised EUR500 million from international markets with a green bond issue due in five years and a coupon of 4.566%.