YPF Sells Bonds, Petersen Forfeits Shares

Argentina’s state-controlled energy company YPF has raised ARP750m ($157m) through the sale of domestic bonds, it says. The 2017 notes pay Badlar+425bp. It does not name the bookrunners. Separately, Argentina’s Petersen Group has forfeited 5.38% of YPF to Spain’s Repsol, YPF says, as a penalty for failing to make payments on loans. Earlier this year, Repsol accepted 21.2m YPF shares from Argentina’s Petersen Group in lieu of payment for a loan. The Argentine government’s expropriation of a 51% stake in YPF out of Repsol’s 57.4% in May and an adjustment of YPF’s dividend policies left the Petersen Group without means to pay back loans it had taken out in 2008 and 2011 to gain a 25.5% stake in YPF.