April 1, 2014 / 2:26 PM / in 4 years

Argentine YPF launches 2024 global bond at 8.75 pct - IFR

April 1 (Reuters) - Argentina’s state-controlled energy company, YPF SA, launched its highly anticipated 10-year global bond to raise up to $1 billion at 8.75 percent on Tuesday, Thomson Reuters service IFR reported.

Investor demand for the bond in New York was around $4 billion, IFR said. The expected ratings are BB/BB-.

YPF had mandated HSBC, Banco Itau and Morgan Stanley to hold investor meetings.

The deal comes as YPF is seeking to attract investment to the vast Patagonian shale oil and gas formation called Vaca Muerta, or Dead Cow. (Reporting by Paul Kilby; Writing by Alejandro Lifschitz; Editing by Peter Galloway)

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