YPF Announces Early Tender Results for $346M Note Buyback

TL;DR

**YPF is buying back $346M in debt, improving its financial position.**

AI Summary

YPF Sociedad Anónima announced the early tender results for its cash tender offer to buy back all of its outstanding US$346,313,047.20 aggregate principal amount of 8.75% Class XXVIII notes due April 4, 2024. The early tender date for this offer was January 19, 2024, at 5:00 p.m. New York City time. This matters to investors because successfully repurchasing these notes reduces YPF's debt obligations, potentially improving its financial health and reducing future interest expenses, which could make the stock more attractive.

Why It Matters

This debt repurchase reduces YPF's financial liabilities and interest payments, which can strengthen its balance sheet and potentially increase shareholder value.

Risk Assessment

Risk Level: low — The filing indicates a debt reduction effort, which generally lowers financial risk for the company.

Analyst Insight

A smart investor would view this debt reduction as a positive sign for YPF's financial stability and consider it a factor in their long-term investment thesis, as it frees up cash flow and reduces risk.

Key Numbers

• $346,313,047.20 — Aggregate Principal Amount (The total value of 8.75% Class XXVIII notes due April 4, 2024, that YPF offered to purchase.)
• 8.75% — Interest Rate (The annual interest rate on the Class XXVIII notes, which YPF will no longer have to pay on repurchased debt.)
• April 4, 2024 — Maturity Date (The original due date for the notes, indicating the short-term nature of the debt being addressed.)
• January 19, 2024 — Early Tender Date (The deadline for noteholders to participate in the early phase of the tender offer.)

Key Players & Entities

• YPF Sociedad Anónima (company) — the registrant making the tender offer
• US$346,313,047.20 (dollar_amount) — aggregate principal amount of notes subject to the tender offer
• 8.75% Class XXVIII notes (other) — the specific debt securities being tendered
• April 4, 2024 (date) — maturity date of the notes
• January 19, 2024 (date) — early tender date for the cash tender offer
• Margarita Chun (person) — Market Relations Manager for YPF S.A.

Forward-Looking Statements

• YPF's interest expenses will decrease in the next quarter due to the successful tender offer. (YPF Sociedad Anónima) — high confidence, target: Q1 2024 earnings report
• YPF's debt-to-equity ratio will improve following the completion of this tender offer. (YPF Sociedad Anónima) — medium confidence, target: Next financial statement

FAQ

Key Financial Figures

• $346,313,047.20 — er for any and all of the outstanding US$346,313,047.20 aggregate principal amount (post-amorti
• $1,000.00 — 6,313,047.20 U.S.$ 137,722,800 U.S.$1,000.00 per U.S.$1,000.00 of principal amount o
• $1,000 — Tender Offer are eligible to receive US$1,000 per US$1,000 principal amount of Securi

Filing Documents

• d735997d6k.htm (6-K) — 26KB
• g735997g0122003925242.jpg (GRAPHIC) — 2KB
• 0001193125-24-011721.txt ( ) — 30KB

From the Filing

6-K SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 6-K REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13A-16 OR 15D-16 UNDER THE SECURITIES EXCHANGE ACT OF 1934 For the month of January 2024 Commission File Number: 001-12102 YPF Sociedad Anónima (Exact name of registrant as specified in its charter) Macacha Güemes 515 C1106BKK Buenos Aires, Argentina (Address of principal executive office) Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F: Form 20-F Form 40-F YPF Sociedad Anónima TABLE OF CONTENT ITEM 1 Translation of letter to the Argentine Securities Commission dated January 22, 2024. Buenos Aires, January 22, 2024 Gentlemen COMISIÓN NACIONAL DE VALORES (CNV) 25 de Mayo 175 MERCADO ABIERTO ELECTRÓNICO S.A. (MAE) Maipu 1210 BOLSAS Y MERCADOS ARGENTINOS S.A. (ByMA) Sarmiento 299 Present Ref : YPF S.A. - Offer to Purchase Our highest consideration: We are hereby writing to you in order to attach the press release relating to the expiration of the early tender date for the cash tender offer for any and all of the outstanding US$346,313,047.20 aggregate principal amount (post-amortization) of the 8.75% Class XXVIII notes due April 4, 2024 (the Tender Offer and the 2024 Notes , respectively), as announced through a relevant fact published on January 5, 2024. Sincerely yours, Margarita Chun Market Relations Manager YPF S.A. YPF Sociedad Anónima Announces Early Tender Results with respect to its Tender Offer for Cash for Any and All of its 8.75% Senior Amortizing Notes due 2024 Buenos Aires, January 22, 2024 YPF Sociedad Anónima ( YPF ) today announced the early tender results as of 5:00 p.m. (New York City time) on January 19, 2024 (the Early Tender Date ) of its previously announced cash tender offer (the Tender Offer ) for any and all of its outstanding US$346,313,047.20 aggregate principal amount of 8.75% Senior Amortizing Notes due 2024 (the Securities ) on the terms and subject to the conditions set forth in YPFs Offer to Purchase dated January 5, 2024 (the Offer to Purchase ). Capitalized terms used in this press release but not otherwise defined have the meanings given to them in the Offer to Purchase. The table below sets forth certain information relating to the Securities and the Tender Offer, including, among other things, the aggregate principal amount of Securities tendered on or prior to the Early Tender Date and the Early Tender Consideration (as defined below). We were advised by the Tender Agent and Information Agent (as defined below), that as of the Early Tender Date, the aggregate principal amounts of Securities specified in the table below were validly tendered and not validly withdrawn. Title of Security CUSIP and ISIN Numbers Principal Amount Outstanding Aggregate Principal Amount Tendered as of Early Tender Date Early Tender Consideration 8.75% Senior Amortizing Notes due 2024 CUSIP: 984245 AK6 P989MJ AY7 ISIN: US984245AK63 USP989MJAY76 U.S.$ 346,313,047.20 U.S.$ 137,722,800 U.S.$1,000.00 per U.S.$1,000.00 of principal amount of Securities (1) (1 ) The amount to be paid for tendered Securities will be US$1,000.00 per US$1,000.00 of the original principal amount of such Securities multiplied by an amortization factor of 0.40. Holders who validly tendered (and not validly withdrawn) their Securities on or prior to the Early Tender Date and whose Securities are accepted for purchase pursuant to the Tender Offer are eligible to receive US$1,000 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, and any additional amounts thereon, if any. Withdrawal rights for the Tender Offer expired at 5:00 p.m., New York City time (7:00 p.m. Buenos Aires time), on Friday, January 19, 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 Offer is scheduled to expire at 5:00 p.m., New York City time (7:00 p.m. Buenos Aires time), on Monday, February 5, 2024 unless extended or earlier terminated (such date and time, as it may be extended with respect to the Tender Offer, the Expiration 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 Offer are expected to be purchased by YPF on January 23, 2024 (the Early Settlement Date ) and cancelled. YPF reserves the absolute right to amend, terminate or withdraw the Tender Offer in its sole discretion, subject to disclosure and as otherwise required by applicable law. In the event of termination or withdrawal of the Tender Offer, Securities tendered and not accepted for

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