YPF Sociedad Anónima Announces Early Tender Results with respect to its Tender
Offers for up to U.S.$500,000,000 Aggregate Principal Amount of Outstanding Securities of the Series Listed Below
Buenos Aires, September 13,
2024 YPF Sociedad Anónima (YPF) today announced the early tender results as of 5:00 p.m. (New York City time) on September 12, 2024 (the Early Tender Date) of its previously announced cash
tender offers (each a Tender Offer and, collectively, the Tender Offers) to purchase outstanding securities listed in the table below (the Securities) not to exceed U.S.$500,000,000 principal
amount in the aggregate, excluding any premium and any Accrued Interest (as defined below) (the Maximum Principal Amount) on the terms and subject to the conditions set forth in YPFs Offer to Purchase dated August 29,
2024 (the Offer to Purchase). Capitalized terms used in this press release but not otherwise defined have the meanings given to them in the Offer to Purchase.
The table below sets forth certain information relating to the Securities and the Tender Offers, including, among other things, the aggregate principal amount
of Securities tendered on or prior to the Early Tender Date and the Early Tender Consideration (as defined below). We were advised by the Information and Tender Agent (as defined below), that as of the Early Tender Date, the aggregate principal
amounts of Securities specified in the table below were validly tendered and not validly withdrawn.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Title of Security |
|
CUSIP and ISIN Numbers |
|
Principal Amount Outstanding |
|
|
Acceptance Priority Level |
|
|
Aggregate Principal Amount Tendered as of Early Tender Date |
|
|
Aggregate Principal Amount Accepted |
|
|
Proration Factor(b) |
|
|
Early Tender Consideration(a) |
|
8.500% Senior Notes due July 2025 |
|
CUSIP:984245 AL4 P989MJ BE0
ISIN:US984245AL47 USP989MJBE04 |
|
U.S.$ |
1,131,771,002 |
|
|
|
1 |
|
|
U.S.$ |
334,125,000 |
|
|
U.S.$ |
334,125,000 |
|
|
|
N/A |
|
|
U.S.$ |
1,012.50 |
|
6.950% Senior Notes due 2027 |
|
CUSIP:984245 AQ3 P989MJ BL4
ISIN:US984245AQ34 USP989MJBL47 |
|
U.S.$ |
809,303,000 |
|
|
|
2 |
|
|
U.S.$ |
251,747,000 |
|
|
U.S.$ |
165,875,000 |
|
|
|
65.848 |
% |
|
U.S.$ |
971.50 |
|
(a) |
Per U.S.$1,000 principal amount. |
(b) |
The proration factor has been rounded to the nearest thousandth of a percentage point for presentation
purposes. |
Holders who validly tendered (and did not validly withdraw) their 2025 Securities or 2027 Securities on or prior to the Early
Tender Date and whose Securities are accepted for purchase pursuant to the relevant Tender Offer are eligible to receive U.S.$1,012.50 and U.S.$971.50, respectively, per US$1,000 principal amount of Securities (the Early Tender
Consideration), and accrued and unpaid interest on their accepted Securities up to, but excluding, the Early Settlement Date (Accrued Interest). Since the aggregate principal amount of 2025 Securities validly tendered
(and not validly withdrawn) on or prior to the Early Tender Date (the 2025 Securities Tendered Amount) does not exceed the Maximum Principal Amount, there will be no proration with respect to such Securities. Since the aggregate
principal amount of 2027 Securities validly tendered (and not validly withdrawn) on or prior to the Early Tender Date, when taken together with the 2025 Securities Tendered Amount, exceeds the Maximum Principal Amount, the tendered 2027 Securities
will be subject to proration by applying a proration factor of 65.848%, pursuant to the Acceptance Priority Procedures described in the Offer to Purchase.
Withdrawal rights for the Tender Offers expired at 5:00 p.m., New York City time (6:00 p.m. Buenos Aires time), on Thursday, September 12, 2024.
Securities that have been validly tendered on or prior to the Early Tender Date cannot be withdrawn, except as may be required by applicable law. The Tender Offers are scheduled to expire at 5:00 p.m., New York City time (6:00 p.m. Buenos Aires
time), on Friday, September 27, 2024 unless extended or earlier terminated (such date and time, as it may be extended with respect to any Tender Offer, the Expiration Date). Because the Tender Offers were oversubscribed at
the Early Tender Date, YPF does not expect to accept for purchase any Securities tendered after the Early Tender Date.
Securities that have been validly
tendered (and not validly withdrawn) at or prior to the Early Tender Date and accepted for purchase by YPF pursuant to the Tender Offers are expected to be purchased by YPF on September 16, 2024 (the Early Settlement Date)
and cancelled.