Chicago, July 26 – YPF Energia Electrica SA (YPF Luz) priced a $400 million 10% notes due July 25, 2026 in an upsized offering, according to a company release.
The seven-year notes were upsized from an initially planned $300 million. The deal was more than three times oversubscribed with $937 in orders, leading to the upsized placement.
Proceeds will be used for investment projects, to repay outstanding debt and for working capital needs.
Banco Itaú Argentina SA and Itaú Valores SA acted as placeholders in the local issue.
International joint bookrunners were Citigroup Global Markets Inc., HSBC Securities (USA) Inc., and Itaú BBA USA Securities, Inc.
YPF entered the electrical market business in 2011, transforming from an oil and gas company to a comprehensive energy company. The company is based in Argentina.
| Issuer: | YPF Energia Electrica SA (YPF Luz)
|
| Amount: | $400 million, increased from $300 million
|
| Description: | Bond
|
| Maturity: | July 25, 2026
|
| Coupon: | 10%
|
| Price: | 98.772
|
| Yield: | 10.25%
|
| Bookrunners: | Citigroup Global Markets Inc., HSBC Securities (USA) Inc., and Itaú BBA USA Securities, Inc.
|
| Announcement date: | July 26
|
|
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
