AI Candelaria’s $50 Million Secured Notes Reopening

Davis Polk advised the initial purchasers on a Rule 144A and Regulation S reopening of $50 million aggregate principal amount of 7.500% senior secured notes due 2028 of AI Candelaria (Spain), S.L.U.

Citigroup and Credit Suisse acted as underwriters in the deal.

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 (Picture) and counsel Katia Brener. The tax team included partner Michael Farber and associates Ben Levenback and Shay Moyal.

Involved fees earner: Maurice Blanco – Davis Polk & Wardwell; Katia Brener – Davis Polk & Wardwell; Michael Farber – Davis Polk & Wardwell; Ben Levenback – Davis Polk & Wardwell; Shay Moyal – Davis Polk & Wardwell;

Law Firms: Davis Polk & Wardwell;

Clients: Citigroup Inc.; Credit Suisse;


Author: Ambrogio Visconti