Argentina's YPF board approves up to $1.2 billion debt issuance

By Marisa Wong

Madison, Wis., Jan. 24 - YPF SA's board of directors approved the issuance of negotiable obligations for an amount of up to $1.2 billion or its equivalent in other currencies at its meeting held on Thursday, according to an 8-K filing with the Securities and Exchange Commission.

The negotiable obligations may be issued in one or more classes or series under the company's $5 billion global medium-term note program approved by shareholders in April 2013.

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

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