Uriel O’Farrell, Sebastián Luegmayer, Alexia Rosenthal and Jaime Uranga

O’Farrell and TCA assist in the issuance of YPF Luz’s Class XIII and XI Notes

Estudio O’Farrell has assisted YPF Energía Eléctrica (YPF Luz) and Tanoira Cassagne advised the underwriters, in the placement of Class XIII Notes for a par value of US$130,000,000 maturing in February 2025 and Additional Class XI Notes for a par value of US$20,000,000 maturing in August 2024.

The issues were made under the Global Programme for the Issuance of Simple Negotiable Obligations (not Convertible into Shares) for a maximum amount outstanding at any time of US$1,500,000,000 (or its equivalent in other currencies).

The Class XIII Notes were tendered at an issue price of 100.1% of par value, so the yield will be -0.05% TNA. The Additional Class XI Notes were issued at an issue price of 102.37%, with a yield of -1.51% NER.

The ON XIII and the ON Additional Class XI have been authorised for listing on the Mercado Abierto Electrónico (MAE).

Banco de Galicia y Buenos Aires, Banco Santander Argentina, Banco Macro, Macro Securities, Banco Supervielle, BNP Paribas Sucursal Buenos Aires, Industrial and Commercial Bank of China (Argentina), SBS Trading, Allaria Ledesma & Cía, Balanz Capital Valores, TPCG Valores, BACS Banco de Crédito y Securitización, Nación Bursátil, Banco Patagonia, Banco de la Provincia de Buenos Aires, Banco Itaú Argentina, Banco de Servicios y Transacciones and Banco Mariva acted as underwriters.

YPF Energía Eléctrica is an electricity generation and commercialisation company, subsidiary of YPF (75.01% of the share capital) and GE EFS Power Investments (24.99% of the share capital).

Carlos Dionisio Ariosa and José María Krasñansky acted as in-house lawyers for YPF. In-house counsels to the underwriters were Solange Spinelli and Pablo Vidal Raffo for BACS Banco de Crédito y Securitización; Ezequiel Politi for Allaria Ledesma & Cía; Diego Graziosi and Mariana Echeverría for TPCG Valores; Maria Valeria Bossi for Nación Bursátil; María Eugenia Ataefe and Pablo Augusto Antao for Banco Mariva; and Ana Vea Murguia and Melina Lozano for Banco de Servicios y Transacciones.

Estudio O’Farrell’s team included partners Uriel F. O’Farrell (pictured left) and Sebastián Luegmayer (pictured centre, left) and associate Nicole Kuracz.

TCA’s team was led by partners Alexia Rosenthal (pictured centre, right) and Jaime Uranga (pictured right), with support from associates Ignacio Criado Díaz, Carolina Mercero, Juan Manuel Simó and Federico Grieben.

L Giselle Estrada

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