The company decided to start the year with a debt placement favored by market liquidity and after achieving an improvement in its rating as a long-term issuer in local currency and foreign currency in the last week.
It will be the first placement that the company will make after the February 24, 2021 issuance of Negotiable Obligations for US$122 million in two series, after the closing of the restructuring of its debt in the international markets
Financing for US$300 million
At its meeting on December 15, the company’s board of directors approved the extension of the authorization for the public offering arranged on January 27, 2021, and which in this case may amount to a total face value of US$300 million.
The company will offer to the market Negotiable Obligations Class XXI denominated in dollars and payable in pesos at the applicable exchange rate at a fixed rate of 1% annual nominal, maturing in 36 months.
The other instrument are Class XXII Negotiable Obligations denominated and payable in pesos at a variable interest rate with a maturity of 18 months.
In 2022, YPF improved its credit ratingas a result of the cancellation of its debt and its investments in Vaca Muerta, and presented five consecutive quarters of net profits.
After optimizing its operations and strengthening its financial profile, the oil company, which has the Argentine State as its main shareholder, went from a “AA+” rating to “AAA”, according to FIX, the local rating agency affiliated with Fitch Ratings.
In the same way, Moody’s Local Argentina upgraded the company’s long-term local currency and foreign currency issuer ratings from AA- to AA+ and from A- to AA-, respectively.
In addition, it upgraded YPF’s foreign currency secured senior debt rating from A to AA, all with a stable outlook.
The main producer of gas and oil in Argentina and the largest fuel trader in the country with a market share of more than 55%, plans to invest more than US$5.1 billion in 2023, an increase compared to US$4.1 billion that He had set himself a goal for 2022.
Source: Ambito
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