Clifford Chance

Clifford Chance advises OCI N.V. on its $1,370 million (equivalent) high yield bond offering

International law firm Clifford Chance has acted as counsel to OCI N.V. ("OCI"), a leading global producer and distributor of nitrogen products and methanol, in connection with its issuance of $1,370 million (equivalent) Senior Secured Notes due 2024.

The bond offering consisted of (i) $600.0 million 5.250% Senior Secured Notes due 2024; and (ii) €700.0 million 3.125% Senior Secured Notes due 2024. OCI used the net proceeds of the Rule 144A and Regulation S offering to repay certain existing indebtedness of the OCI group, including borrowings incurred by OCI and OCI Partners LP, its indirect wholly-owned subsidiary.

Clifford Chance advised OCI on all aspects of the Senior Secured Notes offering, providing integrated U.S., English and Dutch legal advice. The matter was led from London by capital markets partner Andrew Kelly who was supported by senior associates Carolyn Tan and Neal Hutchinson, as well as associate Arielle Littles. The team further comprised of finance partner Nicholas Kinnersley and senior associate Katherine Sinclair. Dutch legal advice was provided from Amsterdam by partner Jurgen van der Meer, senior associate Alexander Freund and associate Shaun Campbell.

Commenting on the transaction, Andrew Kelly said: "We were delighted to continue our long-standing relationship with OCI and to be involved in this significant transaction that successfully continues the company’s strategy of optimizing its capital structure and reducing its weighted average cost of debt."