Milbank LLP advised the initial purchasers and dealer managers in connection with the offering by YPF Sociedad Anónima of US$1.2 billion aggregate principal amount of 7.550% senior notes due 2035, and the offers to purchase any and all of its outstanding 6.95% senior notes due 2027 and Step-Up Amortizing 2.500%/9.000% notes due 2029.
This marks the largest international corporate bond offering by an Argentine company in 11 years.
YPF is Argentina’s leading energy company, operating a fully integrated oil and gas chain with market leadership positions in all upstream, industrialization, commercialization and gas and energy segments in the country.
The Milbank deal team was led by Corporate Finance and Securities partner Carlos Albarracín with special counsel Gonzalo Guitart, associates Agustin Videla and Ronny Vaisman and international attorney Sebastian Garcia-Lascurain Barrantes.
“We are proud to have advised our clients on this groundbreaking YPF offering,” said Mr. Albarracín. “As Argentina’s largest company in terms of asset and market capitalization, YPF continues to be a leader in the development of Argentina’s energy markets, and of the Vaca Muerta formation’s vast oil and gas reserves. This transaction also highlights Milbank's commitment to delivering exceptional results for our clients on complex, landmark deals.”
