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YPF obtains through bonds 500 million dollars; target was 750 million

Thursday, February 5th 2015 - 09:44 UTC
Full article 4 comments
“YPF has placed more than 2.2 billion dollars on international capital markets in the last 18 months,” CEO Miguel Galuccio said. “YPF has placed more than 2.2 billion dollars on international capital markets in the last 18 months,” CEO Miguel Galuccio said.
Argentina also announced the creation of a crude production stimulus program to help companies overcome the slack international oil prices Argentina also announced the creation of a crude production stimulus program to help companies overcome the slack international oil prices

Argentine state majority owned petroleum company YPF has secured funds worth around 500 million dollars on the international finance market after issuing new bond titles, according to the president of the enterprise.

 A company statement signaled that “through the reopening of the emission of Class XXVI and XXVII bonds, YPF has obtained 500 million dollars on the world market with a yield of 8.5% and 8.95% respectively.”

“YPF has placed more than 2.2 billion dollars on international capital markets in the last 18 months,” president and CEO of the company Miguel Galuccio said as he revealed the latest emission, which had aimed to raise up to 750 million dollars.

In related news the Argentine government announced on Wednesday the creation of the so called “Stimulus Program to Crude Oil Production” in a move the government says aims at benefiting both domestic market demands and exports.

In a resolution by the Argentina's National Committee of Strategic Planning and Coordination of the National Plan of Hydrocarbon Investments that was published in the official gazette, the government sets an economic compensation for companies that could reach up to 3 dollars per barrel.

The program seeks also to boost exports by setting an economic compensation of up to 2 dollars per barrel for companies allocating part of their production to the external market.

“Due to the fact that international prices of crude have registered sharp drops over the past months, it is necessary to apply stimulus measures that contribute to mitigate its impact on the level of activity and local employment and to maintain investment guides expected by producers,” the government says in the resolution.

The stimulus plan, it adds, will be reached through “two channels,” by “increasing crude production in the short term” in order to reduce imports, and by “boosting exploration and exploitation investment to find new fields that allow to recover reserves and reach hydrocarbon self-sufficiency.

Top Comments

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  • CabezaDura2

    I just dont get it... You need 200 Bn worth of investment in Vaca Muerta for the next 10 years according to YPF. Back in 2012 after the company was confiscated, Galluccio it would only take 35 Bn.

    Now you have to pay Repsol bonds worth 10 Bn in the next 10 years. So far YPF is getting more monopolic in the Argentine market but the overall production in the country is falling. Plus now YPF is indebting itself further and further and the price of all has plummeted.

    Remind me why YPF was privatized in the early 1990s because it was such a efficient money maker when the State managed it….. Ohh never mind.

    Feb 05th, 2015 - 01:28 pm 0
  • yankeeboy

    They were offing a huge interest rate and couldn't fill the tranche.
    Ominous signs
    BCRA had to banned U$ for imports yesterday.

    This is getting really fun to watch.

    Feb 05th, 2015 - 02:21 pm 0
  • chronic

    Yawn. Pay your debts, rotting roadkill.

    Feb 05th, 2015 - 07:16 pm 0
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