YPF Seeks More Debt

Argentina’s state-owned oil company YPF plans to sell up to ARP4.5bn ($928m) in domestic bonds under its $3bn program, it says. It sold ARP750m in 2017 bonds paying Badlar+425bp earlier this month, and recently reopened them for ARP1.36bn. The issuance, via Nacion Bursatil Soceidad, comes under a $3bn program. YPF previously said that it needs to borrow more than $7bn help with the $37bn it aims to invest through 2017. Argentina’s government expropriated of 51% of the company from Spain’s Repsol in April.