We advised Oceânica on the high-yield 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 $650 million aggregate principal amount of 11.250% senior secured notes due 2031.

Davis Polk also advised Oceânica in connection with its concurrent cash tender offer and consent solicitation for any and all of its outstanding 13.000% senior secured notes due 2029. The concurrent cash tender offer was funded with proceeds from the notes offering.

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 associate Matt Weaver. The finance team included counsel James Vickers. The tax team included partner Lucy W. Farr, counsel Liang Zhang and associates Kelli A. Rivers and Alex (Ang) Gao. Associates Nausherwan Ahmed Aamir, Jeffrey Simmons and John Godoshian provided 40 Act advice. Members of the Davis Polk team are based in the São Paulo and New York offices.

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