Bruchou and TCA on issuance of YPF Class XXIII and XXIV Notes
Bruchou & Funes de Rioja has advised YPF, and Tanoira Cassagne has advised the underwriters, in the placement of the Class XXIII and XXIV Notes and the Additional Class XXII Notes under its Frequent Issuer Programme.
The Class XXIII Notes had a par value of US$147,394,102, mature on 25 April 2025, bear interest at a fixed annual nominal interest rate of 0.00% and were tendered at a price above par of 111.000%; the Class XXIV Notes had a par value of US$37,518. 057, mature on April 25, 2027 and will accrue interest at a fixed annual nominal interest rate of 1.00%; and the Additional Class XXII Notes for a nominal amount of ARS $3,272,635,657, mature on July 10, 2024, will accrue interest at a variable nominal interest rate equivalent to the BADLAR Rate plus a margin of 3.00% and were tendered at a price of 103.70%.
The Class XXIII, XXIV and Additional XXII Notes have been authorized for listing on MAE and BYMA.
Banco de Galicia y Buenos Aires, Banco Santander Argentina, TPCG Valores, Max Capital and SBS Trading acted as underwriters.
YPF is a company dedicated to the exploitation of hydrocarbon resources in Argentina. The company’s shares are listed on local markets and are also listed on the NYSE (New York Stock Exchange).
The in-house lawyers who participated in the transaction were Paola Garbi, Fernando Gomez Zanou, Valeria Moglia, Francisco Gaspari and Marina Quinteiro for YPF; Fernán Pereyra De Olazabal and Enrique Cullen for Banco de Galicia y Buenos Aires; Ignacio García Deibe, Paula Balbi, and Guerrero Ezequiel for Banco Santander Argentina; and Diego Graziosi and Mariana Echeverría for TPCG Valores.
Bruchou’s team comprised partner José María Bazán (pictured left) and associates Leandro Exequiel Belusci and Branko Serventich.
TCA’s team involved partners Alexia Rosenthal (pictured centre) and Jaime Uranga (pictured right), together with associates Ignacio Criado Díaz, Carolina Mercero, Juan Manuel Simó and Federico Grieben.
