White & Case LLP has advised the initial purchasers on Constellation Oil Services Holding S.A.’s issuance of US$650 million in first-lien notes due 2033, a refinancing that replaces the company’s outstanding notes due 2029. Constellation Oil used the proceeds, together with cash on hand, to repay its outstanding US$650 million 9.375% senior secured notes due 2029 and cover related transaction costs. The White & Case team was led by partners Rafael Roberti in New York, Donald Baker and John Guzman in São Paulo. Legal assistants João Godoy and Fábio Garcia in São Paulo and New York law clerk Caroline Colbert supported the transaction. Constellation Oil provides offshore oil and gas contract drilling services in Brazil through Serviços de Petróleo Constellation S.A.