Filip & Company law firm has provided legal assistance to BRD – Groupe Société Générale S.A. and Raiffeisen Bank S.A. Romania, acting as intermediaries, in the public offering of municipal bonds worth 30 million euros carried out by the Municipality of Alba Iulia.

The offering, conducted between 21 and 25 September 2026 and aimed at both retail and institutional investors, attracted significant interest. The total value of subscription orders exceeded 77 million euros, with investor demand exceeding the value of the bonds on offer by more than 47 million euros.

The funds raised through the issuance will be used both to refinance and restructure part of the existing local government debt and to co-finance investment projects supported by non-repayable European funds.

“This issuance demonstrates that the capital market holds a natural and viable place among local authorities’ funding sources. Aside from the specific size of the transaction, the strong interest shown by investors is significant in terms of what it reveals about the depth and absorption capacity of the Romanian market for such instruments.

We are delighted to have contributed, alongside BRD and Raiffeisen Bank, to a transaction that opens new horizons for how local authorities can diversify their access to financing. We extend our gratitude to our partners for their trust and excellent collaboration”, said Olga Niță, partner at Filip & Company.

The Filip & Company team that advised BRD – Groupe Société Générale and Raiffeisen Bank on this transaction was led by Olga Niță (partner) and included Alexandru Bîrsan (managing partner), Roxana Diaconu (counsel), Bianca Gheorghe (associate), Rebecca Marina (partner), Camelia Ianțuc (counsel) and Sandra Danciu (associate).

Over past few years, Filip & Company has been successfully involved in numerous benchmark transactions on the Romanian capital market—spanning both equity and debt offerings—as well as in every sovereign bond issuance by the Romanian State on external markets. The firm's Capital Markets lawyers are consistently top ranked by the most prestigious international directories, including Chambers and Partners, Legal 500, and IFLR, both as a team and individually, with Alexandru Bîrsan honoured in The Legal 500’s “Hall of Fame” for this practice area.

Filip & Company

Filip & Company is one of the leading law firms in Romania, providing top-quality assistance in all relevant areas of business law for companies operating in—or considering—Romania. Specialised in complex projects that require an innovative approach, Filip & Company's lawyers have significant experience in diverse areas, such as infrastructure and concessions, mergers and acquisitions, energy, corporate, real estate, competition law, finance, and capital markets, as well as labour law, data protection, and consumer or environmental protection. The firm also provides legal assistance and representation in disputes and arbitrations with significant implications for their clients’ businesses. Please visit www.filipandcompany.com to find out more about Filip & Company’s expertise areas and team.