Davis Polk advised the initial purchasers in connection with the offering by AI Candelaria (Spain), S.L.U. 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.

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, counsel Katia Brener and associate Omar Raddawi. The tax team included partner Michael Farber and associate Itay Peer. All members of the Davis Polk team are based in the New York office.

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