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Repsol Completes Consent Solicitations and Debt Tender Offers for U.S. Dollar Bonds

Paul, Weiss advised upstream oil and gas company Repsol Oil & Gas Canada Inc. in a debt tender offer.

On June 9, Repsol announced solicitations of consents from holders of its outstanding 7.75% senior notes due 2019, 3.75% senior notes due 2021, 7.25% debentures due 2027, 5.75% senior notes due 2035, 5.85% senior notes due 2037, 6.25% senior notes due 2038 and 5.50% senior notes due 2042 and any-and-all tender offers to repurchase such notes. On June 27, Repsol completed settlement with respect to consents validly delivered by the consent/early tender deadline and, on July 12, Repsol completed settlement with respect to the notes tendered after the consent/early tender deadline and prior to the expiration time. The dealer managers for the transaction were Barclays Capital Inc. and Merrill Lynch, Pierce, Fenner & Smith Incorporated.

The Paul, Weiss team included corporate partner Andrew Foley and counsel Stephen Centa; and tax partner David Mayo.

July 12, 2017

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