YPF Announces Exchange Offer in 6-K Filing

TL;DR

YPF's out with an exchange offer, check the details.

AI Summary

YPF Sociedad Anónima filed a Form 6-K on September 19, 2024, to report an exchange offer. The filing includes a letter addressed to the Argentine Securities Commission (CNV), Mercado Abierto Electrónico S.A. (MAE), and Bolsas y Mercados Argentinos S.A. (ByMA), detailing the terms of this exchange offer.

Why It Matters

This filing signals a significant corporate action by YPF, potentially impacting its debt structure and investor relations.

Risk Assessment

Risk Level: medium — Exchange offers can indicate financial restructuring or debt management strategies, which carry inherent risks.

Key Players & Entities

• YPF Sociedad Anónima (company) — Registrant
• COMISIÓN NACIONAL DE VALORES (company) — Recipient of letter
• MERCADO ABIERTO ELECTRÓNICO S.A. (company) — Recipient of letter
• BOLSAS Y MERCADOS ARGENTINOS S.A. (company) — Recipient of letter
• September 19, 2024 (date) — Date of filing and letter

FAQ

Key Financial Figures

• $500,000,000 — pect to its Offer to Exchange up to U.S.$500,000,000 Aggregate Principal Amount of its 8.500
• $1,000 — e principal amount of New Notes per U.S.$1,000 principal amount of the Companys Old No
• $334,125,000 — n the aggregate principal amount of U.S.$334,125,000 in the Cash Tender Offer (as defined in
• $40,187,700 — ge Offer Memorandum, YPF will issue U.S.$40,187,700 aggregate principal amount of New Notes
• $540,187,700 — y Settlement Date is expected to be U.S.$540,187,700, considering both the New Notes and the

Filing Documents

• d872684d6k.htm (6-K) — 39KB
• g872684g0919211047635.jpg (GRAPHIC) — 2KB
• 0001193125-24-222156.txt ( ) — 43KB

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 September 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 September 19, 2024. Buenos Aires, September 19, 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. Exchange Offer Our highest consideration: Continuing with what was informed by means of a Relevant Matter dated September 5, 2024, we are writing to you in order to attach the press release regarding the expiration and results of the Early Participation Date in connection with the issuance of the Additional Class XXXI Notes, offered in exchange for the 2025 Notes (as defined and set forth in the Exchange Offer Memorandum) (the Exchange Offer ), which was announced by means of the aforementioned Relevant Matter. The Exchange Offer is subject to a number of terms and conditions that are described in detail in the Exchange Offer Memorandum published on September 5, 2024 (the Exchange Offer Memorandum ) in the CNVs Financial Information Highway, in the Electronic Bulletin of the MAE and in the Electronic Bulletin of the Buenos Aires Stock Exchange. All capitalized terms not defined herein have the meanings assigned to them in the Exchange Offer Memorandum. Sincerely yours, Margarita Chun Market Relations Manager YPF S.A. YPF Sociedad Anónima Announces Early Participation Date Results with respect to its Offer to Exchange up to U.S.$500,000,000 Aggregate Principal Amount of its 8.500% Senior Notes due July 2025 for the applicable amount of 8.750% Senior Notes due 2031 September 19, 2024 Buenos Aires, Argentina YPF S.A. ( YPF or the Company or us or we ) today announced the early tender results as of 5:00 p.m. (New York City time) on September 18, 2024 (the Early Participation Date ) of its previously announced offer to exchange (the Exchange Offer ) up to U.S.$500,000,000 in aggregate principal amount (the Offer Cap ) of its outstanding 8.500% Senior Notes due July 2025 (the Old Notes ) validly tendered and accepted for exchange for newly issued 8.750% Senior Notes due 2031 (the New Notes ) of YPF, upon the terms and subject to the conditions set forth in the exchange offer memorandum, dated September 5, 2024 (the Exchange Offer Memorandum ), and the related electronic eligibility letter (the Eligibility Letter and, together with the Exchange Offer Memorandum, the Exchange Offer Documents ). Capitalized terms used in this press release but not otherwise defined have the meanings given to them in the Exchange Offer Documents. The table below sets forth certain information relating to the Old Notes and the Exchange Offer, including, among other things, the aggregate principal amount of Old Notes tendered on or prior to the Early Participation Date and the Early Participation Consideration (as defined below). We were advised by the Information and Exchange Agent (as defined below), that as of the Early Participation Date, the aggregate principal amounts of Old Notes specified in the table below were validly tendered and not validly withdrawn. Title of Security CUSIP and ISIN Numbers Principal Amount Outstanding Aggregate Principal Amount Tendered as of Early Participation Date Aggregate Principal Amount Accepted Early Participation Consideration (a)(b) 8.500% Senior Notes due July 2025 CUSIP:984245 AL4 P989MJ BE0 ISIN:US984245AL47 USP989MJBE04 U.S.$ 797,646,002 (c) U.S.$ 40,194,000 U.S.$ 40,194,000 U.S.$ 1,000 (a) The Early Participation Consideration corresponds to the principal amount of New Notes per U.S.$1,000 principal amount of the Companys Old Notes validly tendered at or prior to the Early Participation Date (as defined below) and accepted for exchange. (b) We will pay accrued and unpaid interest on the Old Notes from the most recent interest payment date in respect of the Old Notes up to, but not including, the Early Settlement Date, which will be reduced by the Pre-Issuance Accrued Interest (as defined in the Exchange Offer Memorandum) up to, but not including the Early Settlement Date, as further described below (the Accrued Coupon Payment ). The first interest payment for the New Notes will include accrued interest from the initial issuance date of the New Money

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