15 maj: På ski i ørkenen – hvis du tør!
17 maj: Pas på dårlige pensionsselskaber
16-05-2012 23:27:00

UPDATE: Argentina's Grupo Petersen Defaults On YPF Loan

Relateret indhold

--Grupo Petersen Misses $400 million loan payment

--Banks entitled to seize YPF shares as collateral

--Talks with creditors continuing

(Adds comments from person with links to Grupo Petersen and background on the YPF nationalization.)

By Shane Romig

Of DOW JONES NEWSWIRES

BUENOS AIRES -(Dow Jones)- Argentina's Grupo Petersen missed a $400 million payment to creditor banks on Wednesday, which could allow them to seize the shares of oil company YPF SA (YPF, YPFD.BA) backing the loan.

So far, the banks haven't indicated that they plan to seize the shares and talks with the creditors are continuing, a person with close links to Grupo Petersen told Dow Jones Newswires.

Grupo Petersen owes the banks just over $1 billion, he said.

The default comes less than two weeks after Argentina expropriated a 51% stake in YPF from Spain's Repsol YPF SA (REP.MC, REPYY), putting the Petersen group in a tight spot.

The Eskenazi family's Grupo Petersen holds a 25.5% stake in YPF, which it had acquired by borrowing heavily.

In 2008, Grupo Petersen financed a 14.9% acquisition of YPF with a $1 billion senior secured loan from a group of banks led by Credit Suisse, according to information posted on the website of law firm Cleary Gottlieb, which represented Grupo Petersen in the transaction. Grupo Petersen also obtained a $1 billion loan and equity from Repsol.

In 2011, Grupo Petersen purchased an additional 10% stake, funding the deal with a $700 million senior secured loan from a group of banks led by Banco Itau and Credit Suisse. Repsol pitched in with another loan of about $625 million, according to Gottlieb.

Grupo Petersen was counting on hefty dividends from YPF to make its loan payments. But the Argentine government has said YPF will no longer pay dividends, rather it will reinvest its earnings to boost production.

The terms of the loan stipulate that the nationalization of YPF or a steep drop in its share price could trigger a default on the loans, both of which have now happened.

A week ago the banks notified Grupo Petersen that it considered the loans in default, the person said.

YPF's shares traded in New York fell more than 7% Wednesday, closing at $13.18. So far this year, YPF's shares have plunged 62%.

-By Shane Romig, Dow Jones Newswires; 54-11-4103-6738; shane.romig@dowjones.com

(END) Dow Jones Newswires

May 16, 2012 17:27 ET (21:27 GMT)

Copyright (c) 2012 Dow Jones & Company, Inc.

Opret kommentar

Relateret debat

  • 1 uge
  • 1 måned
  • 1 År
Ingen indlæg

Fondsbørsmeddelelser

Pandora: Amerikansk investeringsselskab øger igen short-position

25-09-2017 15:17:33
Endnu engang har det amerikanske investeringsselskab AQR Capital Managment øget sin andel af såkaldte "shortede" aktier i smykkeselskabet Pandora.Det fremgår af en indberetning til Finanstilsynet.AQR Capital Managment har nu en shortposition i Pandora på 2,1 pct., hvor investeringsselskabet tidligere kun ejede 2 pct. af den samlede udstedte aktiekapital i selskabet.Mandag eftermiddag stiger Pandor..

NKT/Jyske: Triton Knoll-ordre vil give god sigtbarhed i Köln i 2019

25-09-2017 14:25:53
NKT er i favoritposition til at løbe med kabelkontrakten til det britiske havvindmølleprojekt Triton Knoll, efter at udviklerne bag, et joint venture mellem Innogy og Statkraft, har valgt den danske leverandør som den foretrukne.Kommer der i løbet af 2018 som ventet en fast og ubetinget aftale ud af det, så vil det sammen med en eventuel ordre på Borssele beta sikre NKT en god kapacitetsudnyttelse..

Aktier/middag: Nets rider på købsbølgen i let positivt marked

25-09-2017 11:43:44
Nets er den store historie på ugens første dag på fondsbørsen, efter at en amerikansk kapitalfond har lanceret et købstilbud på 33 mia. kr.Et køb har været rygtet i længere tid, men mandag blev det altså officielt, at fonden Hellman and Friedman vil købe hele Nets. Det sender aktien i betalingsselskabet i vejret.Samlet set er aktiehumøret i både Danmark og Europa lunet op i dagens løb, så det tone..

Mest læste nyheder

  • 24 timer
  • 48 timer
  • 1 uge
1
Vestjysk Bank: Investorgruppe har allerede tjent 3 mia. kr. - citat
2
Aktier/tendens: Købsrygterne svirrer om Nets igen
3
Aktier/middag: Nets rider på købsbølgen i let positivt marked
4
Pandora: Amerikansk investeringsselskab øger igen short-position
5
Verdens største kapitalforvalter ser stort på kinesisk nedjustering

Relaterede aktiekurser

YPF Sociedad Anonima 20,84 1,7% Stigning i aktiekurs

Køb- og salgsanbefalinger

  • Trend
  • Pengemaskinen

Copyright Euroinvestor A/S 2017  Disclaimer Privatlivspolitik
Aktieinformation leveres af Morningstar.
Data er forsinket 15-20 minutter iht. de enkelte børsers regler om videredistribution.
 
25. september 2017 18:55:03
(UTC+01:00) Brussels, Copenhagen, Madrid, Paris
Version: LiveBranchBuild_20170925.1 - EUROWEB3 - 2017-09-25 18:55:03 - 2017-09-25 18:55:03 - 1 - Website: OKAY