The repurchase is a small, routine liability management action that modestly reduces near-term refinancing risk. With the notes maturing in July 2026, watch for further repurchases or a refinancing announcement. The impact on YPF's credit profile is marginal given the company's $20.8B market cap and $799M net loss in 2025.
Price Chart
Executive Summary
YPF repurchased Ps. 71.9 billion (US$51 million par value) of its Class XXX Notes (YMCWO) at 99.84% of par, reducing near-term debt ahead of the July 2026 maturity. The notes were originally issued for a combined US$389 million in 2024/2025. This is a modest liability management action that modestly improves the credit profile but is not transformative.
Key Facts
- YPF repurchased Class XXX Notes (YMCWO) between May 26-29, 2026 for Ps. 71,912,696,175.10 (US$51,000,663 par value).
- Repurchase price was 99.84% of nominal value.
- Notes originally issued July 2024 (US$185M) and April 2025 (US$204M) under Frequent Issuer framework, maturing July 2026.
- Repurchased notes will be held in portfolio (not cancelled).
- Total original issuance was US$389 million; repurchase covers ~13% of that amount.
Financial Impact
US$51 million par value repurchased at 99.84% of par, reducing outstanding notes by ~13% of the original US$389 million issuance.
Risk Factors
- Remaining ~US$338M of Class XXX Notes still mature in July 2026, requiring refinancing or cash repayment.
- YPF's 2025 net loss of $799M and high leverage constrain financial flexibility.
- Argentine macroeconomic and regulatory risks remain elevated.
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 4 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 6-K Filing (Primary) | 0001554855-26-001197 |
| Document: 0001554855-26-001197-index-headers.html | 0001554855-26-001197 |
| Document: 0001554855-26-001197-index.html | 0001554855-26-001197 |
| Document: 0001554855-26-001197.txt | 0001554855-26-001197 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 23, 2026 3d ago | 6-K | $49.31 | awaiting T+5 | — | $49.24 (−0.14%) |
Oct 14, 2026 12d ago | 6-K | $51.11 $49.17 | ▼ −3.80% | ▼ −2.78% | $49.24 (−3.66%) |
Oct 8, 2026 17d ago | 6-K | $50.04 $52.10 | ▲ +4.12% | ▲ +6.08% | $49.24 (−1.60%) |
Oct 8, 2026 17d ago | 6-K | $50.04 $52.10 | ▲ +4.12% | ▲ +6.08% | $49.24 (−1.60%) |
Oct 5, 2026 21d ago | 6-K | $51.24 $51.97 | ▲ +1.42% | ▲ +1.00% | $49.24 (−3.90%) |
Sep 25, 2026 4w ago | 6-K | $51.37 $51.24 | ▼ −0.25% | ▼ −1.46% | $49.24 (−4.15%) |
Sep 21, 2026 5w ago | 6-K | $53.18 $51.37 | ▼ −3.40% | ▼ −2.38% | $49.24 (−7.41%) |
Sep 17, 2026 5w ago | 6-K | $54.48 $53.61 | ▼ −1.60% | ▼ −2.45% | $49.24 (−9.62%) |
Sep 9, 2026 6w ago | 6-K | $56.06 $54.48 | ▼ −2.82% | ▼ −2.32% | $49.24 (−12.17%) |
Aug 6, 2026 11w ago | 6-K | $49.16 $50.05 | ▲ +1.81% | ▲ +1.41% | $49.24 (+0.16%) |
US Market Status
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