Bucharest-Dentons has advised a consortium of banks comprised of Alpha Bank Romania, Banca Comerciala Romana S.A., BRD - Groupe Société Générale S.A., and Raiffeisen Bank S.A., on the issuance and private placement by the Bucharest Municipality of bonds with a total nominal value of RON 555.1 million (approximately €111 million). The unsecured, non-convertible bonds have a fixed annual interest rate of 8.47% and a maturity of 6 years. They will be used to refinance existing debt arising from the bond issuance that matured on May 5, 2025.

The newly issued bonds have been admitted to trading on the regulated market operated by the Bucharest Stock Exchange.

Partner Loredana Chitu, Head of Dentons' Capital Markets team in Bucharest, led the transaction, assisted by Capital Markets associates Alin Roca and Bogdan Galatanu.

Loredana Chitu commented: "Following our involvement in previous municipal bond issuances, we are pleased to have contributed to the completion of this successful new private placement. It is a pleasure to work with the talented and dedicated teams of these banks, and also with an issuer whose frequent presence on the capital market is welcomed."

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