Wolf Theiss advises a syndicate of banks on granting a credit facility to Romgaz S.A. in Exxon’s Black Sea gas stake deal

Bucharest, 10 August 2022 – Wolf Theiss acted as legal advisor to a syndicate of banks, consisting of Raiffeisen Bank and Banca Comercială Română, in relation to a EUR 325 million credit facility granted to S.N.G.N. Romgaz S.A. for the purpose of financing a portion of the purchase price in relation to its acquistion of 100% of the share capital in Exxon Mobile Exploration and Production Romania Limited, which holds 50% of the rights and obligations for the Neptun Deep project.

Earlier this year, in April 2022, Wolf Theiss advised Raiffeisen Bank Romania on granting a 325 Million Euro credit facility to Romgaz S.A. In addition, Wolf Theiss’s Banking & Finance team in Bucharest, coordinated by Claudia Chiper, has now provided legal assistance to the two financing banks throughout the process of negotiating, signing and using the credit facility. Claudia worked closely with Senior Associate Iuliana Stoicescu in relation to all the transacitonal work.

“We are very pleased for the opportunity to contribute to the succesful completion of the largest transaction in the Romanian market on energy financing. Our team of lawyers had the pleasure of working in close collaboration with professional and focused teams at each bank but also on Romgaz side and their advisors, Dentons”

Claudia Chiper, Partner and Head of Banking & Finance, Wolf Theiss Bucharest