OOGTK Libra Refinances Brazilian FPSO Project

Davis Polk advised OOGTK Libra GmbH & Co KG, as borrower, and certain shareholders including Ocyan S.A. and Altera Infrastructure, in connection with the refinancing of the Libra Project. The transaction concerned the refinancing of the long-term limited recourse Libra Project, which comprises an extended well test floating production, storage and offloading unit (FPSO) chartered to Petróleo Brasileiro S.A. (Petrobras). The refinancing restructures the long-term financing arrangements supporting the project and the FPSO asset. Ocyan S.A., one of the shareholders, is a Brazilian drilling company with over 45 years of experience in the oil and gas industry, operating across drilling, production, offshore maintenance and subsea services. Altera Infrastructure, another shareholder, is an offshore energy infrastructure provider focused on FPSOs and other maritime assets and services, with experience in the ownership, operation and management of floating production assets. Davis Polk advised OOGTK Libra GmbH & Co KG and certain shareholders, including Ocyan S.A. and Altera Infrastructure, with a team composed by: James Vickers, Charlotte Rice, Luis Felipe Sousa and Andrew Young (corporate); Michele Babkine (equity derivatives); and Alon Gurfinkel and Valentin Van de Walle (tax). Team members were based in the São Paulo, London and New York offices.

OOGTK Libra Refinances Brazilian FPSO Project

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