Source: Thomson Reuters.
Seeing its stock plummet – YPF shares dropped from 720 ARS on January 07 to 520 ARS on January 21 – the Argentinian national oil company was forced to alter its initial debt restructuring proposal. Initially it wanted to pay no interest on the bonds in their first 2 years (2021/2022), now YPF is already offering limited interest payments (4% for bonds maturing in 2026, 2.5% for 2029 maturity and 1.5% for 2033 maturity). Initially YPF was offering 8.5% interest for 2026 and 2029 maturity bonds, now it has raised the coupon rate to 9%. Interestingly, at the time of this writing (January 28), i.e. a whole week after Nielsen’s announcement that he would step down Gonzalez was still not named as his successor, despite the entire Argentinian political spectrum treating it as an immutable fact.