Repsol Secures EUR1 Billion Credit at an Interest Rate Below 3% -Report
07/17/2012| 08:57pm US/Eastern
Spanish oil company Repsol YPF SA (REP.MC, REPYY) secured a 1-billion-euro ($1.23 billion) credit with three banks at an interest rate below 3% and pledged a 10% stake in Gas Natural SDG SA (>> Gas Natural SDG SA) as guarantee for it, reports ABC in its Wednesday Internet edition.
Repsol, which is looking to increase its liquidity at a difficult time to access capital markets, reached the agreement with Banco Bilbao Vizcaya Argentaria SA (>> Banco Bilbao Vizcaya Argentaria S.A.), Barclays Bank and Societe Generale, the paper adds.
Newspaper website: www.abc.es
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