Repsol has successfully completed the largest dollar-denominated debt placement in its history, issuing US$2.5 billion in bonds through its exploration and production subsidiary. The transaction, structured in three tranches with maturities of three, five and ten years, was executed by Repsol E&P Capital Markets, an indirect and wholly-owned subsidiary of the group.
Bond issue for Repsol
The issue aroused strong interest among international investors, reaching a demand 6.9 times higher than the amount offered, which the company considers a clear sign of support for its strategy in the upstream segment. upstream segment.
All tranches are unconditionally and irrevocably guaranteed, which maintains a BBB+ credit rating from S&P and Fitch. Coupons will be paid semi-annually and the issue is expected to officially close on September 16, 2025.
The funds raised will be used to refinance internal debt between group subsidiaries, thus optimizing the company’s financial structure. This operation is in addition to the issue of 750 million euros in perpetual bonds made in June on the Luxembourg Stock Exchange, and the upcoming maturity of another similar issue launched in April 2020, in the midst of the pandemic crisis.
Source: EL PAÍS
