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2014-05-28 17:55:00

REPSOL SOLD ARGENTINA

REPSOL SOLD ARGENTINA

Repsol has completed the sale process of its assets in Argentina with the sale to JP Morgan Securities of the remainder of the BODEN 2015 securities that the company still held, with a nominal value of $117.36 million, which were part of the means of payments in the compensation obtained for the expropriation of 51% of YPF and YPF Gas.

From the sale of the entire holding of Argentinean bonds, Repsol has obtained a total $4.9972 billion in compensation for the expropriation. This extinguishes the $5 billion debt recognised by Argentina.

Additionally, Repsol has sold the 0.48% stake of YPF that it still owned following the sale on May 7th of 11.86% of the share capital of the Argentinean company. Total revenue from the sale of 12.34% of YPF is $1.3113 billion.

The combined effect of these transactions, including interest payments (accrued interest) represents total revenue of $6.3085 billion.

The proceeds from these sales reinforce of the company's financial capacity, a fact which has been recognised by credit rating agencies with upgrades of Repsol's rating.

pennenergy.com

Tags: REPSOL, ARGENTINA

Chronicle:

REPSOL SOLD ARGENTINA
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REPSOL SOLD ARGENTINA
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IEA COOLS THE MARKET

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REPSOL SOLD ARGENTINA
November, 15, 15:15:00

IEA: GLOBAL ENERGY DEMAND UP BY 30%

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REPSOL SOLD ARGENTINA
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RUSSIA'S OIL EXPORTS UP

Product exports have grown significantly over the past several years and are expected to continue to grow as Russian refineries add capacity to produce more high-quality products.

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