Argentina's YPF announces subscription period for bond offering

By Caroline Salls

Pittsburgh, Sept. 17 - YPF SA said the subscription period for its sale of Ps. 100 million of class I variable-rate bonds due 2011 will run from Friday to Sept. 24.

As previously reported, the bonds will be sold at par under the company's Ps. 1 billion global bond program.

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 Francés SA, Banco Santander Río SA and Nuevo Banco de Santa Fe SA are the agents.

Proceeds will be used for working capital.

YPF is a Buenos Aires-based energy company.

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