W&C advises AI Candelaria on $50m notes issuance
White & Case has advised Spanish AI Candelaria on the issuance of US$50 million senior secured notes due 2028
AI Candelaria, a portfolio company of I Squared Capital, is a Madrid-based holding company that owns an interest in Oleoducto Central, the owner and operator of the largest crude oil pipeline in Colombia.
The issuance amounted to US$50 million in aggregate principal amount of its existing 7.500% senior secured notes due 2028 in a Rule 144A/Regulation S offering. The notes are listed on the Singapore Exchange Securities Trading Ltd.
The White & Case cross-border team was led by a team from its New York office and included the assistance of Madrid office Corporate partner Yoko Takagi (pictured left) and M&A/Corporate associate Reyes Carvajal (pictured right).
Citigroup Global Markets Inc. and Credit Suisse Securities (USA) LLC acted as underwriters on the offering, advised in Spain by Cuatrecasas with a Finance team including partners Jaime de la Torre Viscasillas and Rebeca Rodríguez Martínez, together with associates José Magán and Lucía Arranz Prota.