Argentina's YPF to sell Ps. 100 million of class I floaters at par

By Caroline Salls

Pittsburgh, Sept. 15 - YPF SA will sell Ps. 100 million of class I variable-rate bonds due 2011 at par under its Ps. 1 billion global bond program, according to a news release.

The company said it can increase the total class I bond issuance to Ps. 300 million.

Fitch Argentina Calificadora de Riesgo SA has rated the issuance AAA(arg).

The minimum subscription amount will be Ps. 1,000, and the bonds will be sold in Ps. 1 increments thereafter.

Interest will accrue at the private Badlar rate, plus a margin to be determined after the subscription period.

BBVA Banco Frances SA, Banco Santander Rio SA and Nuevo Banco de Santa Fe SA are the agents.

Proceeds will be used for working capital.

The company is a Buenos Aires-based energy company.

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