Morales & Besa advised Citigroup Global Markets Inc., Bank of America Merrill Lynch and Scotiabank Capital (USA) Inc. in connection with the issuance and sale by Empresa Nacional Del Petróleo.

November 6, 2018

Morales & Besa advised Citigroup Global Markets Inc., Merrill Lynch, Pierce, Fenner & Smith Incorporated and Scotia Capital (USA) Inc. in connection with the issuance and sale by Empresa Nacional del Petróleo, of US$ 680,000,000 aggregate principal amount of its 5.250% notes due 2029, issued under New York law and placed under the Rule 144A and Regulation S of the United States of America.

The proceeds from the sale will refinance existing debt and also go towards general corporate purposes. Perfect synchronization and execution of the working group that got the transaction executed minutely according to plan.

Offering made in the context of the different episodes of environmental crisis in Quintero and the impact it may have on the Issuer.

The Morales & Besa team that participated in this operation was made up by partner Guillermo Morales, and senior associates Paloma Infante, Jaime Rosso and Josefa Rodriguez.