YPF S.A.’s $750 Million Notes Offering

Estudio O’Farrell, Norton Rose Fulbright US LLP, Tanoira Cassagne and Milbank advised on the transaction

YPF, a fully integrated Argentine oil and gas energy company and Argentina’s largest company, raised US$ 750,000,000 in the international capital markets, through the international issuance of Series LIII Notes due 2027 at a fixed rate of 6.950%. It is worth mentioning the Notes had offers for USD 2,196,432,000, which is approximately three times the maximum issuance amount.

The Notes are listed on the Luxembourg Stock Exchange for trading on the Euro MTF market and on the Mercado Abierto Electrónico S.A. (MAE). YPF shares are listed on the BYMA and YPF ADRs are listed on the New York Stock Exchange (NYSE).

Credit Suisse Securities, J.P. Morgan Securities LLC acted as joint bookrunners and J.P. Morgan Chase Bank, N.A. acted as local placing agent in Argentina.

Estudio O’Farrell advised YPF S.A. with Uriel F. O’Farrell (Picture), Sebastián Luegmayer and Marina Laura Quinteiro.

In US, Norton Rose Fulbright advised YPF S.A. with Talbert Navia, Claude Serfillippi, Jacqueline Hu and Amanda Sewell.

Tanoira Cassagne advised Credit Suisse Securities, J.P. Morgan Securities and J.P. Morgan Chase Bank, N.A. with Alexia Rosenthal (Picture), Jaime Uranga and Ignacio Criado Díaz.

In New York, Milbank advised Credit Suisse Securities, J.P. Morgan Securities and J.P. Morgan Chase Bank, N.A. with Donald Canavaggio and Kristina Rochester.

Involved fees earner: Uriel O’Farrell – Estudio O’Farrell; Sebastián Luegmayer – Estudio O’Farrell; Marina Laura Quinteiro – Estudio O’Farrell; Alexia Rosenthal – Tanoira Cassagne; Jaime Uranga – Tanoira Cassagne; Ignacio Criado Díaz – Tanoira Cassagne; Talbert Navia – Norton Rose Fulbright; Jacqueline Hu – Norton Rose Fulbright; Amanda Sewell – Norton Rose Fulbright; Carlos Albarracín – Milbank; Donald Canavaggio – Milbank; Kristina Rochester – Milbank;

Law Firms: Estudio O’Farrell; Tanoira Cassagne; Norton Rose Fulbright; Milbank;

Clients: Credit Suisse Securities Limited; JP Morgan Securities; YPF S.A.; JPMorgan Chase & Co.;


Author: Ambrogio Visconti.