State-owned company YPF has completed the placement of $800 million in negotiable bonds and, in this way, marked its return to the capital market after four and a half years since its last broadcast international.
In a statement released on Thursday, the company specified that the placement, expiring in 2031, “This is one of the biggest debt issues of the company e represents the reopening of international markets for Argentine corporate issuers”.
“After receiving offers of more than $1.8 billion, the company decided to issue marketable bonds worth $800 million,” YPF explained. And he added: “The new bond is guaranteed by export, has a final maturity of 7 years and an interest rate of 9.50%, with a yield of 9.75%.”
The state company will allocate the funds obtained for debt refining and to finance your investment plan with focus on the development of Vaca Muerta and the growth of unconventional hydrocarbon production.
According to the company led by Horacio Marín, these were simple negotiable (not convertible into shares) class XXVIII bonds denominated, integrated and payable in US dollars maturing in 2031which will accrue interest at a fixed rate with respect to the principal amount pending payment and will be secured by a first lien on the Collateral pursuant to a Security Interest governed by the laws of New York, United States.
The international banks Citibank, JP Morgan and Santander were the underwriters of this transaction.
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Source: Clarin
