Milbank LLP represented the lead arranger, the joint bookrunners and the administrative agent and collateral agent in connection with the debt financing for the acquisition by funds affiliated with The Carlyle Group (“Carlyle”) of a significant minority shareholding in Compañía Española de Petróleos, S.A.U (“Cepsa”) from Mubadala Investment Company.
Cepsa, based in Madrid, Spain, is an integrated energy company that operates across the petroleum value chain in more than 20 countries and also operates in the renewables sector.
Carlyle is a global alternative asset manager and one of the world’s largest global private equity firms with approximately $224 billion of assets under management across 374 investment vehicles as of September 30, 2019.
The Milbank Global Leveraged Finance team was led by partners Marcus Dougherty and Charles Stern and included associates Gabrielle Paolini and George K. Miller. Also providing advice on various points in the transaction were Alternative Investments partner Cathy Martin, Tax partner Eschi Rahimi-Laridjani and Tax associate Archan Hazra.
