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Dentons advises CEC Bank on the update of its Medium-Term Note (MTN) Program followed by a €300 million Senior Non-Preferred Eligible Notes issuance

Bucharest/Frankfurt, December 2, 2024 – Global law firm Dentons has advised CEC Bank on the update of its existing MTN Program followed by the raising of €300 million through a new issue of Senior Non-Preferred Eligible Notes intended to qualify as MREL instruments.  Erste Group Bank A.G. and ING Bank N.V. served as Joint Bookrunners and Co-Arrangers, and BT Capital Partners acted as Co-Manager.

Dentons also advised CEC Bank on the establishment of its MTN Program in December  2022 whose limit has now been increased from with a total amount of €600 million to €1.5 billion, also offering drawdown options in RON, EUR, and USD.

Bucharest-based partner Loredana Chitu, Head of the Capital Markets practice in Romania, led the cross-border Dentons team advising the issuer, working closely with Frankfurt-based partner Oliver Dreher, Head of the Debt Capital Markets (DCM) practice in Germany, as well as associate Alin Roca and paralegal Bogdan Galatanu in Bucharest, and Philippa Münnich-Winter (Senior Associate), Nadja Reiß (Associate) and Sven Henneke (Project Manager Legal) in Frankfurt.

“As long-standing advisors to CEC Bank since their very first issuance, we are proud to be by their side throughout this remarkable journey in the international debt capital markets. We extend our heartfelt congratulations to the dedicated and talented CEC Bank team on this latest successful bond issuance, and we thank the joint bookrunners, managers, and their counsel for the collaboration on this significant achievement!," said Loredana Chitu.

“This transaction demonstrates Dentons' capability in navigating intricate cross-border capital markets matters, demonstrating the exceptional synergy of our multi-jurisdictional teams and their knowledge across key regions”, added Oliver Dreher.

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