Mixed response to YPF’s $6.2 bn debt restructuring offer

Creditors of Argentina’s state-run oil company, YPF SA, are sending mixed signals as one group of bondholders rejected the company’s latest debt restructuring plan while another voiced support. The YPF Ad Hoc Bondholder Group, which says it holds 45% of YPF’s bonds maturing in March, said it wouldn’t tender its bonds in the company’s debt swap. A second committee of creditors, led by law firms Dechert LLP and DLA Piper, said it supported the company’s offer. Bondholders have until Friday to accept YPF’s proposal to exchange $6.2 billion of existing debt for three new bonds and a cash sweetener.

Source: World Oil