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 US$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 percent 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.
The energy giant will start paying back principal on the debt in July 2026, the people added, giving the bond a weighted average life of about 4.75 years.
The offering comes as YPF plans to repurchase as much as US$346 million in outstanding dollar bonds due in April. The company said it would pay cash for the bonds and is offering a premium for investors who tender before Jan. 19.
Some investors questioned whether the…
