Davis Polk Advises ContourGlobal on Its €550 Million Notes Offering and Cash Tender Offer

Davis Polk advised ContourGlobal Power Holdings S.A., an indirect wholly owned subsidiary of ContourGlobal L.P. (ContourGlobal), in connection with the offering of €550 million aggregate principal amount of its 5.125% senior secured notes due 2021. The notes were sold pursuant to Rule 144A and Regulation S under the Securities Act of 1933. The obligations under the notes are guaranteed by ContourGlobal and certain of its subsidiaries and are secured by pledges of the capital stock or other ownership interests of certain of ContourGlobal’s subsidiaries. ContourGlobal used the net proceeds from the offering to refinance outstanding indebtedness and for general corporate purposes.

Davis Polk also advised ContourGlobal in connection with a concurrent cash tender offer for any and all of the outstanding 7.125% senior secured notes due 2019. The tender offer consideration was funded from the net proceeds of the offering. 

ContourGlobal is a developer and operator of wholesale electric power generation businesses, operating in 20 countries and 3 continents. ContourGlobal manages, owns and operates a portfolio of power plants with approximately 3,939 megawatts of installed gross capacity in operation or under construction.

The Davis Polk corporate team included partners Joseph P. Hadley and Richard D. Truesdell Jr., counsel Jeffrey S. Ramsay and associates Scott M. Herrig, Milson C. Yu and Christopher Nairn. Partner Po Sit and associates William A. Curran and Anne L. Doherty provided tax advice. All members of the Davis Polk team are based in the New York office.