Bondoc si Asociatii has been assisting RetuRO Sistem Garanție Returnare, the sole administrator of the Romanian deposit-return system (DRS), in accessing a RON 426 million (approx. EUR 85.7 million) green financing to support its investments in the technical infrastructure necessary for the implementation of the DRS scheme and the related operational activity. ING Bank N.V. Amsterdam – Bucharest Branch (ING Romania) acted as the sole lender in this transaction. The founding members of the representative associations of beverage producers shareholders of RetuRO Sistem Garanție Returnare (Brewers of Romania Association for the Environment and the Association of Soft Drinks Producers for Sustainability) namely Bergenbier (Molson Coors), Coca-Cola HBC, Heineken, Maspex, PepsiCO, United Romanian Breweries Bereprod (Tuborg), Ursus Breweries (Asahi Europe & International), played an important role in securing this financing in their capacity as guarantors.
This deal had a strategical importance for all the parties involved, as it supports the development of the largest circular economy project in Romania and contributes to Romania meeting the recovery and recycling targets set out under the EU circular economy package. By contributing to closing this green loans for RetuRO Sistem Garanție Returnare in an extremely tight deadline while involving numerous parties on the borrower side, the banking and finance team of Bondoc si Asociatii has demonstrated its strong capabilities, valuable expertise and commitment to client service.
“By closing this green loan, we took a major step forward in our mission to implement the Deposit Return System in Romania. Securing the necessary funding for such an ambitious project has required 6 months of hard work. We are proud to be the promoters of the largest circular economy project in the country, which will not only promote a cleaner and more responsible Romania but will also lead to long-lasting changes in mentality and behavior at personal, community and business environment level. All of these would not have been possible without the professional legal assistance provided by our partners, Bondoc si Asociatii. Their experience and dedication have played a crucial role in securing this financing, bringing us closer to our vision of a greener future and a cleaner Romania” stated Catalina Marga, CFO of RetuRO Sistem Garanție Returnare.
“We are honoured that we have been assisting Returo in the obtaining of the green loans, a critical step for the implementation of the Romanian deposit return system. We would like to congratulate the entire team of Returo intensively involved in closing this deal within exceptionally short deadlines triggered by the applicable legal framework” said Simona Petrișor, Partner and head of the Banking & Finance team at Bondoc si Asociatii.
Bondoc si Asociatii was selected by Returo Sistem Garantie Returnare to provide legal assistance in connection with the implementation of the deposit return system in Romania. The team of Bondoc si Asociatii that assisted in the green financing was led by Simona Petrișor (Partner) and included Alexandru Achim (Managing Associate) and Silviu Vasiliu (Senior Associate).
More details about the financing could be found here: https://ing.ro/informatii-utile/ING-a-acordat-o-finan-are-verde-de-426-milioane-lei