Dentons advises CEC Bank on raising over €162 million through a SNP tap
Bucharest/Frankfurt, November 20, 2023 – Global law firm Dentons has advised CEC Bank on raising over €162 million through a tap of its February 2028 senior non-preferred MREL Eligible Notes, issued in February 2023. The placement brings the aggregate size of the tapped issue to € 281.9 million, with total drawdowns under CEC Bank’s € 600 million EMTN Programme now amounting to € 414 million. The international Dentons team for the issuer comprised Bucharest partner Loredana Chitu, Head of the Capital Markets practice in Romania, and Frankfurt partner Oliver Dreher, Head of the Debt Capital Markets (DCM) practice group in Germany, as well as counsel Oana Ionascu and associates Alin Roca and Alexandra Sofineti in Bucharest, associate Nadja Reiß in Frankfurt, and senior associate Philippa Münnich-Winter in Berlin.
“Having been instructed by CEC Bank with their inaugural EMTN Programme and successful debut bond placements, we are delighted to have been able to contribute again to CEC Bank’s strongly evolving capital markets presence”, said Loredana Chitu.
“This transaction demonstrates once more the particular strength of Dentons’ multi-jurisdictional teams in handling complex cross-border capital markets mandates, combining both leading international capital markets experience and unparalleled know-how in the key jurisdictions involved”, added Oliver Dreher.
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