Argentina’s YPF Sells $800 Million Bond to Fund Debt Buyback
- State-owned oil company’s new bond carries a 9.75% yield
- Company plans to repurchase as much as $346 million in debt
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Argentina’s state-owned oil driller YPF SA tapped international investors with a new dollar bond to help finance a buyback of existing debt, according to people familiar with the matter.
The firm sold $800 million in fixed-rate debt due 2031, according to people familiar with the matter. The notes priced at 99.083 cents on the dollar with a 9.75% yield, down from initial price talk in the low 10%-range, said the people, who asked not to be identified because they’re not authorized to speak about it.