Spanish Repsol sells Argentinian bonds

Madrid - Spanish oil group Repsol has raised $2.0bn with the sale of Argentinian government bonds received as payment for the nationalisation of its offshoot YPF, the company said.

The sale, worth the equivalent of €1.47bn means that Repsol has received almost all the $5.3bn in compensation it received in the form of bonds to settle a dispute over the nationalisation in 2012.

Repsol last week sold a first bundle of the bonds to raise $2.8bn.

The bank said that given the current favourable standing of Argentinian debt on the sovereign debt market, it had arranged several bond sales via US bank JPMorgan.