Repsol accepts Argentina’s first-ever negotiated expropriation deal

Repsol’s shareholders have accepted the compensation agreement struck with the Argentine government over the expropriation of the company’s stake in YPF – a US$5 billion bond package built around the government’s ability to honour the bonds within 15 years and to enable Repsol to monetise them as quickly as possible to avoid the risk of attachment by holdout creditors from the country’s debt default.