By Rebecca Melvin
New York, July 18 – Yacimientos Petrolíferos Fiscales SA priced $750 million of 6.95% notes due 2027 at par on Tuesday, a syndicate source said.
The Rule 144A and Regulation S notes (expected ratings: /B/B) priced tighter than the 7¼% coupon that was initially talked.
Joint bookrunners of the deal were Credit Suisse and JPMorgan.
The issue has a change-of-control put.
Proceeds are earmarked to refinance some existing debt as well as for capital expenditures and working capital.
YPF is a petroleum and natural gas company based in Buenos Aires.
| Issuer: | Yacimientos Petrolíferos Fiscales SA
|
| Amount: | $750 million
|
| Maturity: | July 21, 2027
|
| Description: | Senior notes
|
| Bookrunners: | Credit Suisse and JPMorgan
|
| Coupon: | 6.95%
|
| Price: | Par
|
| Yield: | 6.95%
|
| Change-of-control put: | Yes
|
| Trade date: | July 18
|
| Settlement date: | July 21
|
| Expected ratings: | S&P: B
|
| Fitch: B
|
| Distribution: | Rule 144A and Regulation S
|
| Price talk: | 7¼% coupon
|
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