Repsol To Sell Argentine Bonds To JP Morgan

 

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)