We advised the representatives of the initial purchasers on the high-yield offering

Davis Polk advised the representatives of the initial purchasers in connection with the offering of $200 million aggregate principal amount of 11.875% senior notes due 2030 issued by Compañía General de Combustibles S.A. (CGC). The notes offered are a reopening of the $300 million aggregate principal amount of CGC’s 11.875% senior notes due 2030, issued on November 28, 2025. The notes were sold in an offering exempt from registration pursuant to Rule 144A and Regulation S.

CGC is a leading independent energy company operating in Argentina, engaged in the development, production and exploration of crude oil and natural gas. CGC also has significant equity investments in a network of pipelines in northern and central Argentina and Chile.

The Davis Polk corporate team included partner Maurice Blanco and counsel Drew Glover. The tax team included partner Kara L. Mungovan and associate Hunter P. Shaw. Members of the Davis Polk team are based in the New York and Northern California offices.

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