Davis Polk advised OGX Austria GmbH, a subsidiary of OGX Petróleo e Gás Participações S.A. (OGX) on a Rule 144A/Regulation S high yield notes offering of $1.063 billion aggregate principal amount of 8.375% senior notes guaranteed by OGX and its subsidiaries OGX Petróleo e Gás Ltda. and OGX Campos Petróleo e Gás S.A.

OGX, a part of Eike Batista’s EBX Group, is the largest independent oil and natural gas exploration and production company in Latin America, and among the ten largest pure exploration and production companies globally, in each case based on a market capitalization of approximately $30 billion. OGX currently has the largest private sector exploratory campaign in Brazil in terms of number of exploratory wells.

The Davis Polk corporate team included partner Manuel Garciadiaz, associates Drew Glover, Andrew Lyle and Christian D. Guevara and foreign temporary associate Fernanda Desio (admitted only in Brazil). The tax team included partner Po Sit and associate Ankur Dalal (not yet admitted). Associate Catherine L. Martin provided 1940 Act advice. Joshua Sills was the legal assistant on the transaction. All members of the Davis Polk team are based in the São Paulo and New York offices.