Press Release Press Release

Wolf Theiss advises Raiffeisen Bank Romania on granting a 325 Million Euro credit facility to Romgaz S.A.

Bucharest, 1 April 2022 – Wolf Theiss acted as a legal advisor to Raiffeisen Bank in relation to a EUR 325 million credit facility granted to S.N.G.N. Romgaz S.A., the largest gas producer in Romania.

With this credit facility, Raiffeisen Bank Romania provides Romgaz with partial financing of the acquisition price of the shares in Exxon Mobile Exploration and Production Romania Limited, who holds 50% of the rights and obligations for the Neptun Deep project.

Wolf Theiss provided legal assistance to Raiffeisen Bank in relation to the drafting of the term sheet and binding offer in the context of the public auction procedure run by Romgaz, reviewing and negotiating the facility agreement, reviewing the relevant corporate approvals of Romgaz, and issuing the customary legal opinion all the way through to the successful completion of the deal.

Under the lead of Partner Claudia Chiper, the Wolf Theiss Banking & Finance team involved in this project included Senior Associate Iuliana Stoicescu.

“We have been very pleased with the quality of representation we received from Wolf Theiss. They have handled this transaction in an intelligent, intensive and thorough manner. Claudia Chiper and her team handled all matters with utmost care and great professionalism”, mentioned Delia Ganea, Legal Counsel Raiffeisen Bank.

“We are very pleased to have been involved in yet another success story representing our long-term client, Raiffeisen Bank and in supporting their commitment to sustain the transition process to a greener economy, enabling companies to implement their sustainable strategy. The transition to zero emissions is one of the main focuses of the European Green Deal. This landmark deal – the largest transaction on energy financing – is one of the steps forward for Romania in order to achieve that goal and we are very pleased to have the opportunity to assist Raiffeisen Bank in bringing it to a successful closure”, stated Claudia Chiper, Partner, Head of Banking & Finance practice at Wolf Theiss Bucharest office.