- Repsol (OTCQX:REPYY, OTCQX:REPYF) says it agreed to sell a package of Argentine sovereign bonds today to JPMorgan for $2.8B, part of a $5B settlement with Argentina after the country expropriated Repsol's 51% stake in YPF in 2012.
- The sale will add to Repsol's growing cash pile, which the company says it intends to use mostly for acquisitions but could leave the door open to paying a special dividend or buying back stock if it can't find an attractive acquisition.
Repsol to sell YPF compensation bonds to JPMorgan for $2.8B
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