Bolstered by the international scope of the firm, Clifford Chance Badea fields a capital markets department that advises on cross-border matters with Romanian law components, and is well versed in handling significant debt and equity transactions. The department is also well known for assisting clients with market abuse and compliance issues. The lead contacts are Madalina Rachieru-Postolache, whose ‘impressive experience’ spans all types of finance transactions, debt and equity products; and Daniel Badea, founding partner of the Bucharest office and veteran of many of the country’s most significant capital markets transactions. Gabriel Toma is a key figure at a more junior level, specialising across banking and finance. After two years in-house, Radu Ropota rejoined the firm in 2024.

The capital markets group at CMS' Bucharest office is a key part of the wider firm’s international offering, in the CEE region and globally. Practice head Cristina Reichmann  is especially well regarded for her practice in securities, and she and her team are also adept at handling debt and equity capital markets work. The office also has a strong track record in advising on IPOs, high-yield bonds, derivatives, structured finance and securities matters. Adina Nanescu works closely with Reichmann on capital markets and regulatory matters. Mircea Ciută is a further key figure to note.

From significant IPOs and high-valued notes issuances, to share sales and capital increases, the capital markets team at Filip & Company has a strong track record in some of Romania’s most notable matters. Domestic and international transactions are both within the wheelhouse of the practice that is led by the ‘sharp, responsive and commercial’ Alexandru Bîrsan, one of the best-known longstanding figures in the market. Olga Niță is frequently lead counsel across the range of matter types, and Roxana Diaconu is also a key and active name in this area, acting in a number of TMT sector matters recently.

Underpinned by ‘a thorough understanding of the local regulatory landscape’, Schoenherr si Asociatii SCA‘s capital markets offering is equipped to advise corporate issuers, investment banks and regulated entities on the gamut of capital markets work, including IPOs, SPOs, secured and unsecured debt issuances, and liability management. Practice head Narcisa Oprea has 25 years of experience in the market with a track record in innovative matters. Support comes from Veronica Das Alexeev and Cristina Tudoraș, both of whom are well versed in assisting both domestic and international companies.

‘Exceptional professional’ Loredana Chitu takes leadership of the capital markets practice at Dentons in Bucharest, which is regularly sought after by banks and issuers requiring assistance with domestic and international equity and debt transactions. Chitu herself is an expert in the field and led the international team of counsel from Dentons that advised Hidroelectrica on its EUR 1.9bn IPO and subsequent listing on the Bucharest Stock Exchange. Other names to note in the team are Alin Roca and Stefi Ionescu.

With strength in handling both debt and equity transactions, the team at RTPR | Radu Taracila Padurari Retevoescu SCA has been counsel to parties in a number of high-profile IPOs. The group is also well regarded for its regulatory advice in relation to capital markets matters. ‘Exceptionally experienced lawyer … for capital markets transactions’ Mihai Ristici co-leads the capital markets group with Victor Pădurari, who has expertise across banking and finance, capital markets and projects transactions. Support to the practice heads comes from Andreea Burtoiu and Vlad Stamatescu.

An experienced team at Bondoc si Asociatii SCA assists with a broad range of capital markets matters. Its client base consists of top companies and financial entities and the group is well versed both in domestic and cross-border matters. Simona Petrișor leads the team and has strength in transactional and regulatory matters. Diana Ispas, Florin Sandu and Silviu Vasiliu are also key figures in the practice.

Sabin Volciuc-Ionescu heads up the capital markets practice at Volciuc-Ionescu and is an accomplished practitioner for both equity and debt capital markets matters. The group is a robust choice for major multilateral lenders and investors and is adept at handling Romanian and international mandates. Diana Tudor is one of the standout younger lawyers in the Romanian market and assists Volciuc-Ionescu with the full range of work in this area.

Kinstellar‘s Bucharest office houses a reliable regulatory offering in capital markets work, which is frequently instructed by well-known global banks and investment companies needing Romanian law counsel on multi-jurisdictional matters. Financial regulatory expert Zsuzsa Csiki leads the department and further contacts to note include Mădălina Perțe, recommended for her ‘practical and concise advice'; and Răzvan Constantinescu.

Leroy si Asociatii's niche in the Romanian capital markets space is in handling structured products, including swaps and derivatives, wherein it assists with transactional and regulatory matters. Andreea Toma has specialist knowledge in this area and leads the practice, which also includes financial instruments and derivatives expert Cristian Bumbac.

Capital raising transactions are a particular strength of the capital markets group at Musat & Asociatii, which is a reliable choice for cross-border matters. The practice is jointly led by senior partner Gheorghe Muşat; Răzvan Stoicescu, an experienced advisor to financial institutions; and banking and finance expert Monia Dobrescu. Robert Urmosi is a further key name.

Popovici Nitu Stoica & Asociatii‘s practice has particularly strong expertise in advising large, high-profile investment funds in the capital markets space, and has a long history in the field. Bogdan Stoica and Alexandru Ambrozie are the leading contacts to note, advising on a broad spectrum of equity and debt capital markets matters. Alexandra Niculae is the standout support.