Pricing for YPF Loan Emerges

Pricing for YPF Loan Emerges

M&A

An Argentine private equity group led by the Eskenazi family is offering what some see as attractive pricing on a $2bn 3.5-year loan to support the acquisition of 25% of YPF, the Argentine subsidiary of Spain's Repsol YPF. At a well attended bank meeting last week in Madrid, the group told bank participants they could expect to receive 200bp over Argentina's 3-year CDS, according to a banker who attended. On Monday, the basis was quoted at 380bp-395bp over Libor. An up-front fee of 125bp is also

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