We advised Credit Suisse Securities (USA) LLC, JP Morgan Securities LLC and SMBC Nikko Securities America, Inc. as initial underwriters, in connection with the issuance of senior secured senior notes by AI Cancelaria (Spain), S.A.
Cuatrecasas advised financial institutions Credit Suisse Securities (USA), JP Morgan Securities and SMBC Nikko Securities America as the initial purchasers in the framework of the issuance of senior secured notes by holding company AI Candelaria (Spain), entitled “US$600,000,000 5.750% Senior Secured Notes due 2033,” under Rule 144A and Regulation S of the US securities market, for a total nominal amount of US$600,000,000, at a fixed rate of 5,750% and due Jun 15, 2033.
With this transaction, the financial institutions have refinanced part of the previous issuance of AI Candelaria (Spain), for a total nominal amount of US$750,000,000, at a fixed rate of 7.500% due 2028. AI Candelaria (Spain) has also strengthened its position in the Oleoducto Central share capital.
The Cuatrecasas team that participated in the transaction was made up by Finance Practice lawyers Jaime de la Torre and José Magán and Tax Practice lawyers Rebeca Rodríguez and María Esquisábel.
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