By Christine Van Dusen
Atlanta, March 18 – Argentina’s Yacimientos Petrolíferos Fiscales SA (YPF) priced $1 billion of 8½% notes due March 23, 2021 (expected ratings: Caa1//CCC+) at par to yield 8½%, a market source said.
Talk was set in the 8 7/8% area.
Credit Suisse, HSBC and JPMorgan were the bookrunners for the Rule 144A and Regulation S deal.
The proceeds will be used for capital expenditures and working capital.
YPF is a petroleum and natural gas company based in Buenos Aires.
| Issuer: | Yacimientos Petrolíferos Fiscales SA | (YPF)
|
| Amount: | $1 billion
|
| Maturity: | March 23, 2021
|
| Description: | Senior notes
|
| Bookrunners: | Credit Suisse, HSBC, JPMorgan
|
| Coupon: | 8½%
|
| Price: | Par
|
| Yield: | 8½%
|
| Change of control put: | At 101
|
| Trade date: | March 18
|
| Settlement date: | March 23
|
| Expected ratings: Moody’s: Caa1
|
| Fitch: CCC+
|
| Distribution: | Rule 144A/Regulation S
|
| Price talk: | 8 7/8% area
|
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