Açu Petróleo Luxembourg S.á. r.l.

Acu Petroleum Terminal - Bond

Industry
Oil & gas/Oil - Upstream (Exploration and production)
Area of finance
Project & Infrastructure Finance
Region
Latin America
Countries
Brazil

Deal Overview

Açu Petróleo’s issuance of U.S.$600 million 7.500% Series 2022-1 Senior Secured Notes due 2035. The notes were issued by Açu Petróleo Luxembourg S.á. r.l., a wholly-owned subsidiary of Açu Petróleo S.A., the owner of the largest and only...

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Açu Petróleo’s issuance of U.S.$600 million 7.500% Series 2022-1 Senior Secured Notes due 2035. The notes were issued by Açu Petróleo Luxembourg S.á. r.l., a wholly-owned subsidiary of Açu Petróleo S.A., the owner of the largest and only privately-owned oil export terminal in Brazil, which has been in operation since 2016. Açu Petróleo S.A. acted as guarantor of the notes and is indirectly controlled by Prumo Logística, a portfolio company of EIG Management. The net proceeds of the notes were applied to refinancing existing debt, finance the U.S.$250 million acquisition by Prumo of Oiltanking Gmbh’s 20% interest in Açu Petróleo S.A., fund reserve accounts, and for distribution to Prumo. Following the offering, Prumo and the Oiltanking buyout, Prumo will hold 100% of Açu Petróleo S.A. The notes were issued in reliance on Rule 144A and Regulation S of the U.S. Securities Act of 1933, as amended.  

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Deal Volume
$600m
Financial Close
13 January 2022
Sources
Submitted by participant(s), Press release

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Projects

Acu Petroleum Terminal

Greenfield
Oil - Upstream (Exploration and production)
Latin America
Brazil
$600m