YPF Triples Planned Bond Sale to $1.5b

Argentina's state energy company YPF has expanded its planned bond sale to $1.5 billion from $500 million, the company said on Thursday in a letter to local market regulators.

Results of the 10-year debt sale are expected to be announced later on Thursday. Reuters' IFR reported the issue was launched at 8.625 percent, down from price talk of 8.75 percent.

"There was a lot of demand, about $4 billion, which is why the company decided to widen the offer," a local market source, who asked not to be named, told Reuters.

In February YPF sold $500 million of bonds, a third less than it had offered as many bids were for higher yields than it would accept.

Since then investor sentiment has improved as the October presidential election draws closer. The next government is expected to be more market friendly than that of outgoing leader Cristina Fernandez, who is barred by law from seeking a third term.

(Reporting by Eliana Raszewski Editing by W Simon)