Wolf Theiss has advised Raiffeisen Bank S.A. (Romania) on its issue of RON 500,850,000 Senior Non-Preferred Eligible Sustainability Notes. This is the first sustainability RON denominated bond issue of a Romanian issuer as of 10 August 2022, with a fixed annual coupon of 8.920%.
On 10 August 2022, Raiffeisen Bank S.A. (Romania) successfully placed an issue of senior non-preferred sustainability notes, in order to finance and/or refinance, in part or in full, new or existing eligible loans providing distinct environmental benefits (eligible green and social loans), with a minimum allocation to social categories of 50% and the difference up to 100% towards green categories, as further described in the Sustainability Bond Framework of Raiffeisen Bank S.A. (Romania). This issue of notes was addressed to institutional investors and has a volume of RON 500,850,000, a tenor of 5 years and a fixed coupon of 8.920% per annum. The notes are intended to be eligible for MREL (Minimum Requirement for Own Funds and Eligible Liabilities) purposes and to be listed on the Luxembourg Stock Exchange and the Bucharest Stock Exchange.
Raiffeisen Bank International AG and Raiffeisen Bank S.A. (Romania) were responsible for the placement of the notes as joint lead managers.
On Romanian law aspects, Raiffeisen Bank S.A. (Romania) relied on the expertise of Wolf Theiss’ international Debt Capital Market (DCM) Team, consisting of senior associate Andreea Tudorache and partner Claudia Chiper from the Bucharest Office, senior associates Nevena Skocic and Nikolaus Dinhof and partner Alex Haas from Vienna Office.
On German law aspects, Raiffeisen Bank S.A. (Romania) was advised by Freshfields Bruckhaus Deringer Rechtsanwälte, partners Stephan Pachinger and Christoph Gleske and team members Christian Joellinger, Birgit Schulz and Benedikt Graf, and the joint lead managers were advised by Clifford Chance, partner Sebastian Maerker, senior associate Wolfgang Ettengruber and transaction lawyer Marlen Klepsch.