Repsol sells 2 billion euro in bonds, will use procedes for Talisman purchase guarantees

Spanish oil company Repsol has issued 2 billion euros in hybrid bonds in two operations carried out in late March and plans to use the funds to help obtain guarantees needed for its announced purchase of Canada-based Talisman.

When Repsol announced the purchase of Talisman late last year, reportedly for 10.4 billion euros, it also said it planned to sell bonds and raise 5 billion euros in total. The March sale is expected to be followed later this year with more bond sales for the remaining 3 billion euros balance that would remain.