Spanish Repsol sells Argentinian bonds

Spanish oil group Repsol has raised $2.0 billion 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 1.47 billion euros, means that Repsol has received almost all the $5.3 billion in compensation it received in the form of bonds to settle a dispute over the nationalisation in 2012. Last week, Repsol sold a first bundle of the bonds to raise $2.8 billion. In a statement late on Tuesday, 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.