YPF Announces Offer to Purchase Securities

TL;DR

YPF is buying back its own securities, details in new 6-K filing.

AI Summary

YPF Sociedad Anónima filed a Form 6-K on August 30, 2024, reporting an offer to purchase its outstanding securities. The filing includes a letter dated August 29, 2024, addressed to the Argentine Securities Commission (CNV), Mercado Abierto Electrónico S.A. (MAE), and Bolsas y Mercados Argentinos S.A. (ByMA), detailing this offer.

Why It Matters

This filing indicates YPF is actively managing its outstanding debt or equity through a repurchase program, which could impact its capital structure and shareholder value.

Risk Assessment

Risk Level: medium — An offer to purchase can signal financial distress or a strategic move to optimize capital, requiring further investigation into the terms and YPF's financial health.

Key Players & Entities

• YPF Sociedad Anónima (company) — Registrant and issuer of the offer
• COMISIÓn NACIONAL DE VALORES (CNV) (company) — Recipient of the notification
• MERCADO ABIERTO ELECTRÓNICO S.A. (MAE) (company) — Recipient of the notification
• BOLSAS Y MERCADOS ARGENTINOS S.A. (ByMA) (company) — Recipient of the notification

FAQ

Key Financial Figures

• $500,000,000 — r offer (the Tender Offer ) for up to US$500,000,000 aggregate principal amount of (i) its 8
• $1,131,771,002.00 — tanding aggregate principal amount of US$1,131,771,002.00 (the 2025 Notes ); and (ii) its 6.950%
• $809,303,000.00 — tanding aggregate principal amount of US$809,303,000.00 (the 2027 Notes, and together with the
• $1,131,771,002 — 0 ISIN:US984245AL47 USP989MJBE04 U.S.$1,131,771,002 1 U.S.$1,012.50 U.S.$962.50 6.9
• $1,012.50 — 989MJBE04 U.S.$1,131,771,002 1 U.S.$1,012.50 U.S.$962.50 6.950% Senior Notes due
• $962.50 — 1,131,771,002 1 U.S.$1,012.50 U.S.$962.50 6.950% Senior Notes due 2027 CUSIP:9
• $809,303,000 — 4 ISIN:US984245AQ34 USP989MJBL47 U.S.$809,303,000 2 U.S.$971.50 U.S.$921.50 (a)
• $971.50 — SP989MJBL47 U.S.$809,303,000 2 U.S.$971.50 U.S.$921.50 (a) Per U.S.$1,000 pri
• $921.50 — .S.$809,303,000 2 U.S.$971.50 U.S.$921.50 (a) Per U.S.$1,000 principal amount.
• $1,000 — .S.$971.50 U.S.$921.50 (a) Per U.S.$1,000 principal amount. The Tender Offers a

Filing Documents

• d876062d6k.htm (6-K) — 29KB
• g876062g0830041654494.jpg (GRAPHIC) — 2KB
• 0001193125-24-210118.txt ( ) — 34KB

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 August 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-FForm 40-F YPF Sociedad Anónima TABLE OF CONTENT ITEM1 Translation of letter to the Argentine Securities Commission dated August 29, 2024. Buenos Aires, August 29, 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 comply with the requirements of the Argentine Securities Commission and the corresponding rules of ByMA and MAE. YPF has commenced a cash tender offer (the Tender Offer ) for up to US$500,000,000 aggregate principal amount of (i) its 8.500% Class XXXIX notes due July 28, 2025 with an outstanding aggregate principal amount of US$1,131,771,002.00 (the 2025 Notes ); and (ii) its 6.950% Class LIII notes due July 21, 2027, with an outstanding aggregate principal amount of US$809,303,000.00 (the 2027 Notes, and together with the 2025, the Notes ), subject to the Acceptance Priority Level (as defined in the offer to purchase dated as of August 29, 2024 (the Offer to Purchase )). The Tender Offer is subject to a number of conditions that are described in detail in the Offer to Purchase. In this regard, please find attached the press release relating to the Tender Offer announced by the Company. Sincerely yours, Margarita Chun Market Relations Manager YPF S.A. YPF Sociedad Anónima Announces Commencement of Tender Offers for up to U.S.$500,000,000 Aggregate Principal Amount of Outstanding Securities of the Series Listed Below, subject to the Priorities Set Forth Herein Buenos Aires, August 29, 2024 YPF Sociedad Anónima ( YPF ) today announced that it has commenced 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 in the aggregate, excluding any premium and any Accrued Interest (the Maximum Principal Amount ). Title of Security CUSIP and ISIN Numbers Principal Amount Outstanding Acceptance Priority Level Early Tender Consideration (a) Late 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.$1,012.50 U.S.$962.50 6.950% Senior Notes due 2027 CUSIP:984245 AQ3 P989MJ BL4 ISIN:US984245AQ34 USP989MJBL47 U.S.$809,303,000 2 U.S.$971.50 U.S.$921.50 (a) Per U.S.$1,000 principal amount. The Tender Offers are subject to the acceptance priority set forth herein and on the other terms and conditions set forth in YPFs Offer to Purchase dated the date hereof (the Offer to Purchase ), including the concurrent or earlier consummation of a new notes offering that provides YPF with sufficient funds to meet the obligations of YPF in connection with the Tender Offers. The Offer to Purchase more fully sets forth the terms of the Tender Offers. 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 the Tender Offers, the Expiration Date ). To be eligible to receive the applicable Early Tender Consideration indicated in the table above, plus interest accrued on the Securities until the applicable Settlement Date (as defined below) ( Accrued Interest ), you must validly tender your Securities at or prior to 5:00 p.m., New York City time (6:00 p.m. Buenos Aires time) on Thursday, September 12, 2024 (such date and time, as it may be extended with respect to the Tender Offers, the Early Tender Date ). If you validly tender your Securities after the Early Tender Date, but at or prior to the Expiration Date, you will only be eligible to receive the applicable Late Tender Consideration indicated in the table above (which is less than the applicable Early Tender Consideration), plus Accrued Interest. Following the Early Tender Date and prior to the Expiration Date, YPF may, but is not required to, accept the Securities validly tendered at or prior to the Early Tender Date (the Early Settlement Right ); provided that all conditions set forth in the Offer to Purchase have been satisfied or waived by YPF (the date o

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View this 6-K filing on SEC EDGAR