In 2025, YPF will have as its main objectives two of the key projects of the libertarian administration.
The mixed management oil company, YPFaims to further promote its investments in Vaca Muerta and to this end issued a Negotiable Obligation (ON) for US$1.1 billion and repurchased papers that expired this year for US$750 million. Thus, the company chaired by Horacio Marin seeks to improve the maturity profile to be able to increase capital expenditures (Capex) by 2025.
In 2025, YPF will have as its main objectives two of the key projects of the current administration: the construction of the oil pipeline Vaca Muerta Sur (VMOS) and the LNG projectwhich takes another boost after the entry of Shell to replace Petronas. It will also point to increase gas and oil production.
It should be noted that the shares of the company, which contains public and private capital, increased more than 150%, above inflation, which closed 2024 at 117.8%, as reported by the National Institute of Statistics and Censuses (INDEC).
YPF launched a new ON
The company advanced in a placement of YPF International Law 2034which awarded US$1.1 billion, with a cut rate of 8.5%. For this ON it received offers for US$1.9 billion, “which continues to show significant interest in Argentine assets,” he highlighted. IEB (Invest in the Stock Market Group). Of the total, more than 70% was allocated to the repurchase of papers maturing on July 28, 2025 for approximately US$757 million.
The company announced the result of the buyback offer with a coupon of 8.5% and adhesion of 42%: US$315 million. Next act, and for the rest of the circulation of that paper, YPF carried out a mandatory redemption where 100% was paid plus the compensatory premium, for a total of US$442 million.
In this way, the company will have to face maturities of around US$925 million in 2025. Although, the difference is that a placement is international, while the US$750 million They will be allocated to this debt and investments.
Moody’s improved YPF’s credit rating
Moody’s Ratings improved the credit rating of Argentine companies, which are above the sovereign debt, including YPF bonds. “The ratings of YPF Sociedad Anónima’s senior unsecured bonds and senior secured bonds were upgraded to Caa1 from Caa3,” Moody’s reported.
Marín’s leadership will seek to accelerate the sale of assets that, according to the new board, have nothing to do with the core of YPF’s businesses and do not have a significant impact on the Ebitdaas happened in 2024 with the operation of mature fields.
Source: Ambito
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