YPF - YPF to revamp $6.2B in bonds as recession hits Argentina energy demand

Argentina's state-controlled YPF ([[YPF]] -2.6%) will restructure at least $6.2B in bonds, Reuters reports, as the country struggles to cope with a long recession that pre-dated the COVID-19 pandemic."With this transaction, YPF aspires to solve an extremely complex financial situation that the company is going through as a consequence of the pandemic and to generate the necessary funds to resume a growth path," according to a company source quoted by Reuters.YPF's top short-term challenge will be the refinancing of its international bond maturing in March 2021 amid currency controls implemented by Argentine monetary authorities, Shahid Manzoor writes in a bearish analysis posted recently on Seeking Alpha.

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YPF to revamp $6.2B in bonds, as recession hits Argentina energy demand