Petersen Energía gets $1.026 billion term loan

By Sara Rosenberg

New York, Feb. 25 - Petersen Energía SA got a $1.026 billion senior term loan (B1) to help fund its acquisition of 58.6 million class D shares of YPF SA from Repsol YPF SA, according to an SC 13D/A filed with the Securities and Exchange Commission Monday.

Credit Suisse is the administrative agent on the loan that is dated Feb. 21, HSBC is the collateral agent, and Credit Suisse, Goldman Sachs, BNP Paribas and Banco Itaú Europa are lenders.

In addition, the company entered into a subordinated secured credit agreement due Feb. 21, 2018 with Repsol and Bank of New York, as collateral agent, for $1.015 billion. This loan is priced at 8.12% until May 15, 2013 and at 7% thereafter.

Petersen Energía bought the class D shares, representing 14.9% of YPF's capital stock, for $2.235 billion.

Petersen Energía is a Madrid, Spain, corporation indirectly and wholly owned by the Eskenazi family. Its sole function is to hold the Eskenazi's stake in YPF, a Buenos Aires, Argentina, integrated petroleum company.

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