QGOG Constellation’s $600 Million Notes Offering


Mattos Filho, Veiga Filho, Marrey Jr. y Quiroga, White & Cas, Loyens & Loeff, Milbank and Souza, Cescon, Barrieu & Flesch advised on the transaction.

QGOG Constellation S.A. finalized the exchange of US$600 million in 6.250% senior unsecured notes due 2019 for US$600 million of its newly issued 9.000% Cash / 0.500% PIK senior secured notes due 2024.

QGOG Constellation is a market leading Brazilian-controlled provider of offshore oil and gas contract drilling and FPSO services in Brazil.

The exchange offer allowed QGOG Constellation’s unsecured noteholders to exchange old notes for newly issued secured notes.

Mattos Filho, Veiga Filho, Marrey Jr. y Quiroga advised QGOG Constellation S.A. with a team including Claudio Oksenberg (Picture), Filipe de Aguiar Vasconcelos Carneiro, Nilton Gomes de Mattos Neto, Fernanda Mara Picão Corrêa, Mariana Pio da Rocha Pereira and Ana Clara Zanetti Sá Oliveira.

White & Case LLP advised QGOG Constellation S.A. with John Guzman (Picture).

Loyens & Loeff advised QGOG Constellation S.A. withCédric Raffoul, Arnaud Barchman Wuytiers van Vliet and Mathilde Lavenu.

Milbank, Tweed, Hadley & McCloy LLP advised the ad hoc committee of bondholders with a team incuding New York-based Financial Restructuring partner Abhilash Raval, São Paulo-based Capital Markets partner Tobias Stirnberg and New York-based Leveraged Finance partner Lauren Hanrahan, along with Capital Markets partner Paul Denaro, special counsel Lesley Janzen and associates Lyn Brennan from our Leveraged Finance Group and Mary Doheny from our Financial Restructuring Group.

In Brazil, Souza, Cescon, Barrieu & Flesch advised the ad hoc committee of bondholders with Maurício Santos, Rafael Baleroni, Vitor Falcone and Alexandra Costa.

Involved fees earner: Mauricio Teixeira dos Santos – Souza, Cescon, Barrieu e Flesch; Vitor Nunes Falcone – Souza, Cescon, Barrieu e Flesch; Alexandra Telles Costa – Souza, Cescon, Barrieu e Flesch; Rafael Baptista Baleroni – Souza, Cescon, Barrieu e Flesch; Claudio Oksenberg – Mattos Filho Veiga Filho Marrey Jr & Quiroga; Mariana Pio da Rocha Pereira – Mattos Filho Veiga Filho Marrey Jr & Quiroga; Filipe de Aguiar Vasconcelos Carneiro – Mattos Filho Veiga Filho Marrey Jr & Quiroga; Nilton Gomes de Mattos Neto – Mattos Filho Veiga Filho Marrey Jr & Quiroga; Ana Clara Zanetti Sá de Oliveira – Mattos Filho Veiga Filho Marrey Jr & Quiroga; Fernanda Mara Picão Corrêa – Mattos Filho Veiga Filho Marrey Jr & Quiroga; Abhilash Raval – Milbank; Mary Doheny – Milbank; Tobias Stirnberg – Milbank; Paul Denaro – Milbank; Lesley Janzen – Milbank; Lauren Hanrahan – Milbank; Lyn Brennan – Milbank; Cédric Raffoul – Loyens & Loeff; Arnaud Barchman Wuytiers van Vliet – Loyens & Loeff; John Guzman – White & Case;

Law Firms: Souza, Cescon, Barrieu e Flesch; Mattos Filho Veiga Filho Marrey Jr & Quiroga; Milbank; Loyens & Loeff; White & Case;

Clients: QGOG Constellation SA; QGOG Constellation SA – ad hoc committee of bondholders;

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Author: Ambrogio Visconti.