Repsol To Sell Argentine Bonds To JP Morgan

Posted by Joseph R. Fonseca
Tuesday, May 13, 2014

 

Spanish oil major Repsol said on Tuesday it had agreed the sale of Argentine bonds to JP Morgan for $2.01 billion, the company's second sale of Argentine paper to the U.S investment bank in less than a week.

The bonds were part of a $5 billion settlement with Argentina after the South American country expropriated Repsol's 51 percent stake in energy firm YPF in 2012.

The nominal value of the bonds were $117.36 million, the company said in a statement, and the sale would have no effect on Repsol's financial results.

Argentina's recognised debt with Repsol was reduced by $4.815 billion following the company's recent Argentine bond sales, the company said. (Reporting By Sonya Dowsett)

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