AI Candelaria $650 Million Secured Notes Offering


Cuatrecasas, Brigard Urrutia, Davis Polk & Wardwell, Gómez-Pinzón Abogados, Uría Menéndez and Alston & Bird advised on the transaction

AI Candelaria (Spain), S.L.U. executed its offering of $650 million aggregate principal amount of its 7.500% senior secured notes due 2028. The notes were sold in an offering exempt from registration pursuant to Rule 144A and Regulation S.

Citigroup Global Markets Inc. (USA) and Credit Suisse Securities (USA) LLC acted as initial purchasers on the offering.

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.

Cuatrecasas advised A.l. Candelaria (Spain), S.L. and Oleoducto Central S.A with Jaime de la Torre Viscasillas, Íñigo Rubio Lasarte, Rebeca Rodríguez Martínez, Tania Esteban Logroño and Lucía Arranz Prota.

Brigard Urrutia advised A.l. Candelaria (Spain), S.L. and Oleoducto Central S.A with Carlos Fradique-Méndez (Picture), Luis Gabriel Morcillo, Jaime Robledo, María Camila Ordóñez, María Jimena Isaza, Viviana Araújo, Sergio Andrés Velandia and Miguel Londoño.

Davis Polk advised Citigroup Global Markets Inc. (USA) and Credit Suisse Securities (USA) LLC with a team including Maurice Blanco, Katia Brener Omar Raddawi. The tax team included partner Michael Farber and associate Itay Peer.

Gómez-Pinzón Abogados advised Citigroup Global Markets Inc. (USA) and Credit Suisse Securities (USA) LLC with Ricardo Fandiño, Daniel Flores and Ana María Herrera.

Uría Menéndez advised Citigroup Global Markets Inc. (USA) and Credit Suisse Securities (USA) LLC with Jaime Pereda Espeso, David López Pombo, Sara Asensio Giménez and Beatriz Albors Cano.

Alston & Bird LLP advised Citibank, N.A. acting as trustee with a team including Bradley Johnson and Adam Smith.

Involved fees earner: Carlos Fradique Méndez – Brigard & Urrutia; Luis Gabriel Morcillo – Brigard & Urrutia; Jaime Robledo Vásquez – Brigard & Urrutia; María Camila Ordóñez – Brigard & Urrutia; María Jimena Isaza – Brigard & Urrutia; Viviana Araújo Angulo – Brigard & Urrutia; Sergio Andrés Velandia – Brigard & Urrutia; Ricardo Fandiño – Gómez-Pinzón Zuleta Abogados; Daniel Flores – Gómez-Pinzón Zuleta Abogados; Adam Smith – Alston & Bird LLP; Bradley Johnson – Alston & Bird LLP; Maurice Blanco – Davis Polk & Wardwell; Katia Brener – Davis Polk & Wardwell; Omar Raddawi – Davis Polk & Wardwell; Michael Farber – Davis Polk & Wardwell; Itay Peer – Davis Polk & Wardwell; Jaime de la Torre – Cuatrecasas; Íñigo Rubio – Cuatrecasas; Tania Esteban – Cuatrecasas; Rebeca Rodríguez – Cuatrecasas; Lucia Arranz – Cuatrecasas; Jaime Pereda Espeso – Uría Menéndez; Sara Asensio – Uría Menéndez; David López Pombo – Uría Menéndez;

Law Firms: Brigard & Urrutia; Gómez-Pinzón Zuleta Abogados; Alston & Bird LLP; Davis Polk & Wardwell; Cuatrecasas; Uría Menéndez;

Clients: Citibank; Citigroup Global Markets Ltd; Credit Suisse Securities Limited; AI Candelaria Spain SLU; Oleoducto Central S.A.;