Linklaters advises managers on $1bn YPF bond exchange
Linklaters has advised the dealer managers on the exchange offer for all of Argentina’s state-owned energy company YPF’s outstanding $1 billion 8.500 per cent senior notes due 2021
The notes were exchanged for the applicable amount of newly issued 8.500 per cent senior amortising notes due 2025, plus certain cash consideration.
The deal managers were Citigroup Global Markets Holdings, Itaú BBA USA Securities, and Santander Investment Securities.
YPF’s exchange offer was one of the first liability management transactions completed by an Argentinian company following the sovereign’s default in May on its debts, and amid the global COVID-19 pandemic.
Argentina reached a new agreement with its creditors earlier this month.
The Linklaters team was led by partners Conrado Tenaglia (pictured) and Matthew Poulter, alongside counsel Alejandro Gordano, senior associate Jairo Cavalho Lamatina, and associate Stephanie Torres.
