Repsol places its largest bond issue ever for 2.5b: Advisors
Repsol has successfully closed a three-series bond issue in the U.S. market, for a total of 2.5 billion dollars. This is the largest dollar-denominated issue in the company’s history and, at the same time, the first by the Repsol E&P group, independent oil and gas producers.
The issue has received great interest from the investment community, with demand reaching 6.9 times the amount offered.
The company has placed $500 million in 3-year bonds, with a fixed annual coupon of 4.805%. Another 1,000 million dollars in 5-year bonds, with a fixed annual coupon of 5.204%. And lastly, a 10-year $1 billion, with an annual fixed coupon of 5.976%. The issue is expected to close on September 16, 2025.
The company explained in a statement that the funds obtained will be used to refinance debt that certain Repsol E&P subsidiaries have with other Repsol subsidiaries outside the Repsol E&P group.
Advisors
A&O Shearman has advised Goldman Sachs, Citi and J.P. Morgan as joint global coordinators with team formed by Charles Poole-Warren and Juan Luis Llatas Marcos (Madrid). Also, from the London and New York office: Sachin Davé and Yolanda Borquaye.
