Milbank LLP advised the initial purchasers in connection with YPF Sociedad Anónima’s (NYSE: YPF) offering of US$500 million aggregate principal amount of 8.75% senior notes due 2031, as well as the dealer-managers in an offer to purchase up to US$500 million of YPF’s 8.5% senior notes due July 2025 and 6.95% senior notes due 2027. Concurrently with the tender offer, Milbank advised the dealer-managers in an offer to exchange up to US$500 million of YPF’s 8.5% senior notes due July 2025 for newly issued 8.75% senior notes due 2031. This is the second YPF note offering the Milbank team has advised on this year.
YPF is Argentina’s leading energy company, operating a fully integrated oil and gas chain with market leadership positions in all upstream, industrialization, commercialization and gas and energy segments in the country.
The Milbank deal team was led by Corporate Finance and Securities partner Carlos Albarracín, along with associate Gonzalo Guitart and international attorneys Pamela Molina and Tomas Montes Miquel.
“We are honored to assist the banks in another YPF note offering and related liability management transactions,” Mr. Albarracín said. “YPF is Argentina’s largest company in terms of asset and market capitalization and plays a strategic role in the development of Argentina’s energy markets.”
