Davis Polk & Wardwell LLP

05/13/2021 | News release | Distributed by Public on 05/14/2021 18:21

AI Candelaria secured notes offering, tender offer and consent solicitation We advised the initial purchasers on the high-yield secured notes offering and the dealer managers[...]

Davis Polk advised the initial purchasers on a Rule 144A and Regulation S issuance of $600 million aggregate principal amount of 5.750% senior secured notes due 2033 of AI Candelaria (Spain), S.A.

Davis Polk also advised the dealer managers in connection with the offer to purchase certain of the outstanding 7.500% senior secured notes due 2028 issued by AI Candelaria and subsequent exchange of such notes for a portion of the proceeds from the issuance of the 5.750% senior secured notes due 2033.

AI Candelaria is a Spanish holding company whose sole activity is investing in shares of Oleoducto Central S.A., a Colombian crude oil transportation company that owns and operates the Ocensa Pipeline, the largest crude oil pipeline in Colombia.

The Davis Polk corporate team included partner Maurice Blanco and counsel Katia Brener and James Vickers. The tax team included partner Michael Farber and associate Shay Moyal. Members of the Davis Polk team are based in the New York and São Paulo offices.