MercoPress. South Atlantic News Agency
YPF building credibility buys back 79 million dollars in 2028 bonds
Argentina's nationalized oil and gas company YPF said on Friday it had bought back 79 million dollars in 2028 bonds that it was obliged to repurchase in the case of a state takeover. Read full article
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Disclaimer & comment rules“Just as it was originally thought out in the sale of this benchmark 30-year bond, YPF abided by the contract in order to protect investors,”
Jul 21st, 2012 - 11:18 am - Link - Report abuse 0Oh! We need to add some more to the statement, YPF said: “following a loud 'phone call from Cristina she stated ”And don't mention the investors are FatBoy and our Mates or else“ ”.
OH! I DON'T THINK I GOT THAT RIGHT.
LOL :o)
#1 Is that the best you can come up with? Not happy that YPf is building confidence and doing so well are you?!
Jul 21st, 2012 - 04:53 pm - Link - Report abuse 0@3 How do you make that out with Cristina having to pay back the money they got from the sale of the bond?
Jul 21st, 2012 - 06:27 pm - Link - Report abuse 0The 79M USD should be in YPF's current account to be used by the business, NOT in the pockets of her mates (the close family who 'invested' their money) which was actually paid by the (no longer available) dividend.
YPF / Argie Govt are going to have to find the 79M USD just to keep YPF standing still!
The only building confidence is with her own sort. International investors are so far conspicuous by their absence AND are likely to keep away if they have any sense.
35 Billion US$ investment over the next five years. Where is it going to come from? the tooth fairy?
Jul 21st, 2012 - 06:59 pm - Link - Report abuse 0President Cristina Fernandez seized control of YPF from Repsol, accusing the Spanish oil major of investing too little and making the country increasingly reliant on pricey imports.
Jul 23rd, 2012 - 03:11 pm - Link - Report abuse 0Hows that working out for your CFK? If this was the real intention, why have you recently had to sign an agreement with Bolivia for the supply of more Natural gas to Argentina? Seems like your plan to nationilse has back fired as you dont have the capital to keep production at current levels let alone increase production, therefore it is likely the only way the fuel import bill will go, is up.
The YPF visit to the USA to talk with oil companies has not resulted in any support. It turns out that the cost of drilling a well in Argentina is double the cost in the USA. The oil companies are not that stupid.
Jul 23rd, 2012 - 03:21 pm - Link - Report abuse 0“YPF plans to reverse the nation's energy deficit would require an annual investment of 7 billion dollars from 2013 through 2017”
Jul 23rd, 2012 - 06:29 pm - Link - Report abuse 0A truly bad investment for Argentina - the poor country can't afford to put teachers in schools, build proper roads, and can't afford to pay teacher, police and other public servants...where will this money come from??? The pension schemes (already spent), the central reserves (used for the national debt)....where?
And the Mercosur thuggery begins...
Jul 24th, 2012 - 10:19 am - Link - Report abuse 0http://www.foxbusiness.com/news/2012/07/24/venezuela-chavez-repsol-should-reach-friendly-deal-with-argentina-over-ypf/?
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