Mușat & Asociații announces the successful completion of the award procedure and the signing of the contract by DOGUS for an infrastructure project of strategic importance for Bucharest – the extension of the M4 metro line.The team coordinated by Iulian Popescu, Deputy Managing Partner, and Ana Maria Abrudan, Partner, represented the client throughout the procedure, including before the National Council for Solving Complaints (CNSC), where the favorable decision confirmed the award of the contract to DOGUS.  The CNSC dismissed the appeal filed by Gülermak, maintaining the tender result unchanged. The outcome of the legal proceedings thus consolidated the position of DOGUS as the successful bidder. The CNSC's decision, adopted by a majority vote, allowed the contracting authority to proceed with the signing of the contract.  The contract was signed last week, a moment welcomed by DOGUS representatives, who congratulated the Mușat & Asociații team for their professionalism, dedication, and decisive contribution to achieving this result.  “The signing of the contract marks a key moment for the client, confirms the soundness of the result achieved, and represents an important step for Bucharest’s transport infrastructure.

A multijurisdictional Clifford Chance team from the Bucharest and London offices has advised the consortium of investment banks in connection with the EUR 500 million AT1 bond issue launched by Banca Transilvania S.A. on international markets, its first ever such issuance and the largest in Central and Eastern Europe.  The issue, which consists of additional Tier 1 fixed rate resettable capital securities with no fixed maturity date, will be listed on the Euronext Dublin stock exchange. The amounts raised will be used by the issuer for general financing purposes and to meet capital requirements in accordance with applicable banking regulations.  The legal team included Partner Radu Ropotă and Associate Cosmin Mitrică from the Banking & Finance and Capital Markets practice of the Bucharest Clifford Chance office, and Partner Kate Vyvyan, Partner Matteo Sbraga and Senior Associate Russell Harris of Clifford Chance London.  Partner Radu Ropotă said: “The success of Banca Transilvania’s first AT1 (Additional Tier 1) bond issue reflects its international reputation and standing, as well as institutional investors' interest in Romanian issuers with a solid profile.