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YPF sees early tenders for $137.72 million of 8¾% notes due 2024
By Marisa Wong
Los Angeles, Jan. 22 – Argentina’s YPF SA announced the early 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).
Holders had tendered $137,722,800 of the notes as of the early tender date, according to a Monday press release.
YPF is offering an early tender consideration of $1,000 per $1,000 principal amount of notes tendered by the early tender date.
Holders tendering after the early tender date will be eligible to 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 expects to settle early tendered notes on Jan. 23.
The tender offer will expire 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.
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