RTPR Allen & Overy advises the syndicate of banks on the IPO of Sphera Franchise Group

BUCHAREST – RTPR Allen & Overy has advised Wood & Company Financial Services and Raiffeisen Bank as joint bookrunners on the IPO of Sphera Franchise Group and admission to trading on the Bucharest Stock Exchange.

The RTPR Allen & Overy team was led by Loredana Chitu (Boeru) (Counsel) supervised by Costin Taracila (Managing Partner) and further comprised Vlad Druta, Mihnea Radu and Marina Giurgica.

Bogdan Câmpianu, Managing Director of Wood noted about the project: “We enjoy working with RTPR Allen & Overy because they provide the type of expertise, devotement, business-mindedness and a mix of local and international resources that we need in capital markets deals. We always want lawyers that have a can do” attitude and are deal-makers, but are also knowledgeable of what sophisticated investors are expecting from IPOs.

Laurentiu Ciocirlan, Head of Investment Banking of Raiffeisen commented: “The RTPR A&O team are very responsive, reliable and committed, which is important for a successful IPO, and they gave us the comfort needed on the various stages of the IPO. Having worked together in the last three IPOs, Electrica, Medlife and Sphera, RTPR A&O is definitely one of the go-to firms for sophisticated or time sensitive transactions.”

Loredana Chitu (Boeru) also commented: “The successful IPO of Sphera marks our second excellent collaboration with Wood and Raiffeisen in less than 12 months. We are honoured to contribute with our legal services to this growth story of the Romanian capital market.

After having been the issuer’s counsel in the IPO of Electrica (biggest IPO to date on the Bucharest Stock Exchange) and banks’ counsel in the IPO of Med Life (biggest private IPO of that time), RTPR Allen & Overy continues to consolidate the top tier position in capital markets with yet another important transaction. Our practice is constantly ranked on tier 1 by prestigious legal directories Legal 500 and IFLR1000 and our lawyers are recognised as market leaders in the field.

This follows an exceptional year for Allen & Overy’s global capital markets practice, which maintained its position in capital markets league tables as the top legal adviser in global debt, equity and equity-related capital markets transactions for the fourth year running, advising issuers and managers on 926 deals worth USD657.9 billion in 2016.

RTPR Allen & Overy’s main areas of activity are: financing, mergers and acquisitions, capital markets, insolvency and restructuring, competition, labour law, intellectual property law, litigation and arbitration, and providing advice across a range of business sectors including energy, telecommunications, finance, real estate and the pharmaceutical industry.

Selected capital markets transactions in which RTPR Allen & Overy have been involved are set out below:

  • Raiffeisen Bank S.A. and Wood & Company Financial Services a.s., as managers on the intermediation of Med Life’s IPO.
  • Electrica in relation to its IPO on the Bucharest Stock Exchange and on the London Stock Exchange – first primary offering of shares in Romania involving global depositary receipts.
  • Deutsche Bank, Raiffeisen Bank International and J.P. Morgan, as Joint Lead Managers and Deutsche Trustee Company Limited, as Trustee, on the issuance by NEPI of EUR 400 million high yield bonds.
  • P. Morgan in relation to the issuance by Cable Communications Systems of EUR 450 million senior secured notes guaranteed by RCS & RDS.
  • Schaeffler on the issue of high-yield bonds with a total volume of approximately EUR 1 billion and USD 600 million.
  • BRD – Groupe Société Générale, acting as intermediary, in relation to the offering by Garanti Bank of unsecured bonds due in 2019 with a value of EUR 68 million.
  • Note to the editors:
  1. Allen & Overy is an international legal practice with approximately 5,200 staff, including some 530 partners, working in 44 major cities worldwide.
  2. RTPR was incorporated in 2004 and has been working in association with Allen & Overy since 2008. RTPR Allen & Overy has a team of 45 lawyers, including 5 partners: Costin Tărăcilă, Victor Pădurari, Alexandru Retevoescu, Mihai Ristici, Valentin Berea and also Prof Dr Lucian Mihai, Of counsel.
  3. In this press release, “Allen & Overy” means Allen & Overy LLP and/or its affiliated undertakings.
  4. In this press release, “RTPR Allen & Overy” means Radu Tărăcilă Pădurari Retevoescu SCA in association with Allen & Overy LLP.
  5. Allen & Overy has been operating in the CEE region since 1991, when its first office opened in Warsaw. Since then, it has expanded its operations to include Prague, Budapest, Bucharest, Bratislava and Moscow, all of which are renowned in the market for top quality legal advice combined with local commercial understanding, as well as for their integrity and their pro-active approach to matters. Additionally, Allen & Overy signed an exclusive association with the leading full-service Romanian law firm Radu Tărăcilă Pădurari Retevoescu SCA (RTPR), effective from July 2008, expanding the number of CEE offices in which we are able to provide local law advice to six.