STXNEWS LATAM-Argentina's YPF says plans to sell more bonds

Tue Dec 4, 2012 11:30am EST

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Argentine energy company YPF said it planned to offer up to 4.5 billion pesos ($929 million) more in local bonds as part of a series of debt sales aimed at funding a five-year investment plan to boost oil and natural gas output by almost a third.

YPF, which was nationalized earlier this year, said in a filing to the Buenos Aires Stock Exchange that the bonds were part of a $3 billion debt program approved by shareholders in September. It did not say when the bonds would be launched.

The company needs financing of about $7.4 billion to cover part of the $37.2 billion it aims to invest through 2017.

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