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A&O Shearman represents dealer managers on AI Candelaria (Spain)’s capped tender offer

A&O Shearman represents dealer managers on AI Candelaria (Spain)’s capped tender offer
Published Date
Aug 6 2025

A&O Shearman represented the dealer managers in connection with AI Candelaria (Spain), S.A.’s tender offer of its 7.500% senior secured notes due 2028 up to a maximum aggregate purchase price of USD130 million. The tender offer was launched on June 26, 2025, expired on July 25, 2025, and had an early settlement on July 15, 2025.

AI Candelaria is a holding company whose sole activity is to invest in shares of Oleoducto Central S.A. (Ocensa), a crude oil transportation company that designs, builds, operates, and manages a crude oil pipeline transportation system. Ocensa owns and operates the Ocensa Pipeline, the largest crude oil pipeline in Colombia, covering 836 km underground and 12 km underwater.

“The seamless coordination between our New York and Madrid teams provides efficient execution and showcases the global legal coverage that our clients expect,” said capital markets partner Alejandro A. Gordano.

The A&O Shearman team that advised the dealer managers was led by capital markets partner Alejandro A. Gordano alongside visiting attorneys Moises Gonzalez Arroyo and Delfina Meccia, as well as energy, natural resources and infrastructure partner Charles Poole-Warren and global financial markets senior associate Alvaro Rojo from A&O Shearman’s Madrid office.

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