YPF eyes bond issue paid in fuel

Fuel for thought: Company said to ponder bond issue

AFP/Scanpix

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News Wires

 03 August 2012 18:54 GMT

State-controlled Argentine energy company YPF is considering issuing bonds on the local market that would offer interest payments in fuel instead of cash, the head of the Buenos Aires Stock Exchange said this week.

"The YPF bond is a proposal by the stock exchange," Adelmo Gabbi, the head of the exchange, told Reuters Thursday. "It's a corporate bond that would have the interest rate (paid) in fuel instead of money."

"We're working on this with YPF," Gabbi said, adding that the three-year bond would be aimed at the general public and that another issue was being weighed for major investors.

Argentina's government seized a 51% stake in YPF from Spain's Repsol in May, arguing it had not invested enough to sustain oil and natural gas production amid…

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