Davis Polk instructed on Ultrapar $750 million offering
Davis Polk advised the initial purchasers in a $750 million offering of 5.250% notes due 2026 by Ultrapar.
The notes were issued pursuant to Rule 144A and Regulation S under the Securities Act. The notes are unconditionally guaranteed by Ultrapar Participações S.A. and Ipiranga Produtos de Petróleo S.A.
Ultrapar is a Brazilian company with almost 80 years of history operating in LPG and fuel distribution and retail. The company also runs the Extrafarma drugstore chain, and manages production of specialty chemicals through Oxiteno and liquid bulk storage services through Ultracargo.
The Davis Polk team included partners Manuel Garciadiaz and David H. Schnabel and also other lawyers based in the São Paulo and New York offices of the firm.