OOGTK Libra Refinances Brazilian Libra FPSO Project

Davis Polk advised OOGTK Libra GmbH & Co KG, as borrower, and certain of its shareholders, including Ocyan, S.A. and Altera Infrastructure, in connection with the transaction. The transaction involved 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 project’s long‑term financing arrangements for the FPSO that serves the Libra Project. 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 represented OOGTK Libra GmbH & Co KG (borrower) and certain shareholders, including Ocyan, S.A. and Altera Infrastructure, with a team composed by: corporate team: James Vickers, Charlotte Rice, Luis Felipe Sousa and Andrew Young; equity derivatives: Michele Babkine; tax team: Alon Gurfinkel and Valentin Van de Walle. Members of the Davis Polk team were based in the São Paulo, London and New York offices.

OOGTK Libra Refinances Brazilian Libra FPSO Project

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