Repsol amortizes part of Talismans debt and reduces its financing costs by 65 million dollars a year
Press Release09/12/2015 00:00
It will amortize Talisman bonds in the amount of 1.5 billion dollars in an operation that will provide the Group with a net present value of more than 1 billion dollars.
This will have a positive effect of over 220 million dollars on Repsol’s 2015 earnings and will reduce financing costs by 65 million dollars a year.
The repurchase of Talisman bonds significantly increases the synergies set out in Repsol’s Strategic Plan and reflects its ability to generate new savings after the integration of the Canadian company.
This transaction, in which Repsol used part of its liquidity, was completed today with a new issue of bonds for a value of 600 million euros.