DLA Piper's London and Bucharest offices has advised the government of Romania, acting through the Ministry of Public Finances, on the ground-breaking issuance of €2 billion notes under its €15 billion Global Medium Term Note Programme.

The successful issuance was made in two series of €1 billion each, one with a 10 year maturity and one with a 30 year maturity. It was the first time in the sovereign's history that a 30 year note was issued, allowing the Ministry to further its goal to extend the maturity profile of its public debt.

The DLA Piper team was led by partners Marian Dinu and George Barboutis, and included counsel Sabrina Fox (London), senior associate Cristina Bucur and associates Andreea Badea and Sandra Cahu (Bucharest) and trainee Marina Boterashvili (London).

Marian Dinu, who led the Romania team that advised on the Romanian law aspects of the transaction, commented: "The issuance of a 30 years note is a vote of confidence by investors in Romania and should lead to the possibility of executing more international capital markets transactions with Romanian issuers, including issuers from the corporate sector."

George Barboutis, Head of DLA Piper's U.S. securities practice for EMEA, who led the international deal team, commented: "We were very happy to have advised the Romanian Ministry of Public Finances on this successful transaction. This is another landmark transaction for our Capital Markets Group and highlights the breadth and strength of our practice throughout EMEA."

The issuance was led by BNP Paribas, Citigroup and JP Morgan. They were advised by Clifford Chance.