YPF gives results of tender offer for 8¾% notes due 2024

By Mary-Katherine Stinson

Lexington, Ky., Feb. 6 – Argentina’s YPF SA announced the results of its Jan. 5 cash tender offer for any and all of its outstanding $346,313,047.20 aggregate principal amount of 8¾% senior amortizing notes due 2024 (Cusip: 984245AK6, P989MJAY7).

In total, holders tendered $138,071,200, or 39.87%, of the notes which includes $137,722,800 of the notes tendered as of the Jan. 19 early tender date.

As previously reported, YPF was offering an early tender consideration of $1,000 per $1,000 principal amount of notes tendered by the early tender date.

Holders who tendered after the early tender date will receive the late tender consideration of $950 per $1,000 principal amount.

The company will also pay accrued interest.

The early tender deadline was 5 p.m. ET on Jan. 19, which was also the withdrawal deadline.

The company was expected to settle early tendered notes on Jan. 23.

The tender offer expired at 5 p.m. ET on Feb. 5.

Final settlement is slated for Feb. 7.

Citigroup Global Markets Inc. (800 558-3745 or 212 723-6106), J.P. Morgan Securities LLC (866 846-2874 or 212 834-7279) and Santander US Capital Markets LLC (855 404-3636 or 212 940-1442) are the dealer managers, and Banco Santander Argentina SA and Banco de Galicia y Buenos Aires SAU are local dealer managers in connection with the tender offer.

D.F. King & Co., Inc. (800 859-8509 or 212 269-5550 for banks and brokers; ypf@dfking.com) is the tender agent and information agent.

YPF is a petroleum and natural gas company based in Buenos Aires.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.