Milbank LLP advised the initial purchasers in connection with the offering by YPF Sociedad Anónima, of US $800,000,000 aggregate principal amount of 9.500% Senior Secured Notes due 2031. The notes were secured by export receivables of YPF, Argentina’s leading energy company that operates a fully integrated oil and gas chain with market leadership positions in Argentina. This transaction marks the return of YPF to the international bond market since 2017.
The Milbank deal team was led by Corporate Finance and Securities partner Carlos Albarracín, along with associates Gonzalo Guitart and Ian Hunley, law clerk Favour Agunu and international attorney Pamela Molina. The team also included Leveraged Finance Group special counsel Janet Nadile, Tax partner Andrew Walker and Tax associate Michelle Song.
Mr. Albarracín said, “We are pleased to have advised the banks in this important transaction for YPF and Argentina. We hope this issuance could pave the way for more Argentine issuers to return to the international capital markets as Argentina looks to improve economic conditions and implement market-oriented policies.”
