Argentine energy company YPF has sold
medium-term local bonds equivalent to $734 million, the latest
in a series of debt sales aimed at funding a five-year
investment plan to boost oil and natural gas output by almost a
YPF, nationalized earlier this year, had offered up to 4.5
billion pesos ($919 million) in either 2016 fixed rate,
dollar-linked bonds or 72-month, variable rate peso bonds.
In a statement to Buenos Aires Stock Exchange, the company
said it sold $258 million in the 2016 bond, which is payable in
pesos but linked to the dollar's level on the official foreign
exchange market to protect against depreciation. The bond
carries a rate of 6.25 percent.
It issued 2.33 billion pesos ($476 million) in the 72-month
paper, which will pay the benchmark Badlar rate plus
475 basis points. That represents about 20 percent per year
Local financial newspaper El Cronista cited unnamed sources
as saying the Anses state pensions agency absorbed 62 percent of
the bonds sold.