June 26, 2019 |
Argentina's YPF has issued $500m in international notes, marking the first cross-border bond deal by an Argentine company in more than a year, according to press reports.
The bookrunners Citi, HSBC and Itaú priced the 10-year bond to yield 8.75% after opening the deal between 9% and 9.3%. The oil company will reportedly use the money to pay off debt and add to working capital.
The oil company offered a yield of 7.127% when it sold $750m in 30-year notes in December 2017. It also added $250m to
State-owned oil company raises $500m at less than 9% in its first cross-border deal since 2017