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.

Popovici Nițu Stoica & Asociații (PNSA) has assisted Hexagon Group, one of Romania’s leading real estate developers, on the acquisition of approximately 23 hectares of land from the former Combinatul de Utilaj Greu (CUG) industrial platform in Cluj-Napoca.The property was purchased from German group Max Aicher in a record transaction exceeding €20 million. . .  Following this acquisition, Hexagon Group plans to transform the site into a modern mixed-use development, continuing its commitment to large-scale urban regeneration projects.  PNSA provided legal assistance throughout the entire acquisition process, including preliminary negotiations, due diligence, transaction structuring, drafting and negotiating transaction documents, and assistance through signing and closing.  PNSA team advising Hexagon on this transaction was led by Managing Partner Florian Nițu with Ana Maria Popa (Managing Associate) and included Adrian Nica (Counsel), Cristina Anderco (Associate), Mihaela Ion (Partner), Laura Ambrozie (Managing Associate), Vanessa Nistor (Managing Associate) and Camelia Constantin (Managing Associate). Hexagon Group is a long-standing client of Popovici Nițu Stoica & Asociații, having advised them in numerous transactions in the recent past, including on the acquisition of the former Tehnofrig platform in Cluj-Napoca, in a transaction worth approximately €35 million; the development of the mixed-use project Hexagon District; as well as the development of ERA residential complex, a large-scale urban regeneration project financed with more than €18 million. .