In a note sent to BYMA on Thursday, YPF reported that it had received bids for a nominal value of 1,784.1 million dollars, more than tripling the maximum volume to be placed, of 500 million dollars.
The YPF oil company received a flood of offers in a tender for Negotiable Obligations (ON) with maturity in 2031, whose objective is to raise funds for repurchase other company securities maturing in 2025 and 2027.
In a note sent this Thursday to BYMA, YPF reported that it had Offers for a nominal value of 1,784.1 million dollars, more than tripling the maximum volume to be placed, of 500 million dollars, EFE indicated.
The securities tendered are ON with maturity in September 2031, with a nominal annual yield of 8.75%.
Argentina’s largest hydrocarbon producer will apply the funds obtained from this placement to the cash repurchase of up to $500 million of two series of ON, one maturing in July 2025, with an outstanding amount of US$1,131.7 million, and another maturing in 2027, with an outstanding amount of US$809.3 million.
The buyback offer, launched on August 30, has an early date of adhesion (September 12), with a better compensation for the investor. Both operations will allow the oil company to stretch the profile of its maturities.
According to the oil company’s latest balance sheet, its total debt at the end of the first half of the year amounted to $7.457 billion, up 18% year-on-year.
The company posted a net profit of $1.192 billion in the first half of this year, an increase of 65% compared to the profits obtained in the same period in 2023.
Source: Ambito
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