YPF in $700 Secured Term Loan Facility

Cleary Gottlieb represented YPF S.A. (YPF), as borrower, in a $700 million secured term loan facility, with Banco Bilbao Vizcaya Argentaria S.A., Banco Latinoamericano De Comercio Exterior S.A., Banco Santander S.A., and Itaú Unibanco S.A., Nassau Branch, as joint lead arrangers and joint bookrunners, and Citibank N.A. as administrative and collateral agent.

The transaction was executed and closed on October 23, 2025. The secured credit facility is collateralized by receivables from export sales. YPF intends to use the proceeds of the facility to finance future exports of commodities, merchandise, and products.

YPF is Argentina’s leading energy company and operates a fully integrated oil and gas chain with market leadership positions in all upstream, industrialization, commercialization, and gas and energy segments in the country.