We advised Oceânica on its Rule 144A / Regulation S senior secured notes offering

Davis Polk advised Oceânica Engenharia e Consultoria S.A. and its subsidiaries OCEANICA LUX and Oceanica Netherlands B.V. in connection with a Rule 144A / Regulation S offering of $150 million aggregate principal amount of its 13.000% senior secured notes due 2029. The notes offered are a reopening of the $375 million 13.000% senior secured notes due 2029 issued by OCEANICA LUX on October 2, 2024. The proceeds from the offering of the notes will be used by Oceânica to redeem certain outstanding indebtedness and for general corporate purposes.

Based in Rio de Janeiro, Brazil, Oceânica provides technological solutions for subsea engineering and for the inspection, maintenance and repair of subsea structures. The company operates by offering support services for oil and gas exploration and production, with the majority of its services related to production operations off the Brazilian coast.

The Davis Polk capital markets team included partner Manuel Garciadiaz and associates Matt Weaver and Lucas Pignaton Fenyves. The tax team included counsel Liang Zhang and associates Kelli A. Rivers and Alex (Ang) Gao. Associates Nausherwan Ahmed Aamir and David Sacasa-Ospina provided ’40 Act advice. Members of the Davis Polk team are based in the São Paulo, New York and London offices.

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