Several firms act in tender offer for YPF Notes
Several firms in Argentina and the US have advised on the tender offer for YPF’s 8.75% senior notes due 2024, with an outstanding principal amount of USD $346,313,047.20.
This transaction followed YPF’s announcement of the maturity and final results of its cash tender offer for each and all of its Notes on 6 February. As of 5 February, Notes for a value of US$ 138,071,200 were tendered. These Notes were purchased and cancelled by YPF on 7 February 2024.
Bruchou & Funes de Rioja and Cleary Gottlieb Steen & Hamilton acted as local and international counsel to YPF, respectively, and Tanoira Cassagne Abogados (TCA) and Milbank acted as respective local and international counsel to the coordinators of the offer.
Citigroup Global Markets, J.P. Morgan Securities and Santander US Capital Markets acted as coordinators of the offer; and Banco Santander Argentina and Banco de Galicia y Buenos Aires acted as coordinators of the local offer.
YPF is one of the largest Argentine companies engaged primarily in the exploitation of hydrocarbon resources in the Argentine Republic.
YPF was advised by its in-house lawyers Fernando Gómez Zanou, Marina Quinteiro, Francisco Gaspari, Paola Garbi and Valeria Moglia.
Bruchou’s team was led by partner José Bazán (pictured top left), assisted by associates Leandro Belusci, Josefina Mortola Saiach, Facundo Suárez Loñ and Teo Panich.
Cleary’s team comprised partner Juan G. Giráldez (pictured top centre), associates Ignacio Lagos and Martín Sasson, international lawyer Juan Ignacio Leguízamo and law clerk Nicole Mueller.
TCA’s team included partners Alexia Rosenthal (pictured bottom left), Jaime Uranga (pictured bottom centre) and Rocío Carrica (pictured bottom right) and associates Ignacio Criado Díaz, Carolina Mercero and Juan Manuel Simó.
Milbank’s team consisted of partner Carlos Albarracín (pictured top right), associates Gonzalo Guitart and Ian Hunley and international lawyer Pamela Molina.
