YPF dodges default
Financially beleaguered producer reaches debt compromise, allowing it to focus efforts on boosting Vaca Muerta supply
Argentinian state energy company YPF has agreed to restructure the bulk of its near-term debt, deferring the immediate threat of default, after bondholders accepted a fourth bond-swap offer. The Vaca Muerta producer reached an almost 60pc consensus among creditors to issue new bonds that will cover the $413mn bond, set to expire in March. Under the agreed terms, investors holding $100 in capital will receive $40 in cash and $70 in bonds maturing 2026. “When you use a 12pc discount rate to value the new 2026s, the combination of cash plus the new bonds is worth $102,” says Ezequiel Fernandez, research head at Argentinian investment bank Balanz. “That is very close to the $104 that YPF was sup
Also in this section
21 April 2026
After overcoming a COVID-induced demand collapse with several years of successful market management, geopolitical events have conspired to provide the pact’s biggest test to date
21 April 2026
The regime’s policy of using nuclear ambiguity as a deterrent may have failed but it has realised it has other cards to play, while its neighbours are reappraising their approach to security
21 April 2026
As the global energy system undergoes a fundamental realignment, Algihaz Holdings has established itself as a critical player bridging conventional energy markets and the next generation of renewable infrastructure.
21 April 2026
The 25th WPC Energy Congress is taking place from 11-15 October 2026 at the Riyadh Front Exhibition & Conference Center.
