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Repsol SA To Convert Preference Shares Into Cash And Bonds-Reuters

Thursday, 30 May 2013 04:48am EDT 

Reuters reported that Repsol SA said it was seeking board approval to convert EUR3 billion ($3.9 billion) of preference shares into cash and bonds. In a statement, Repsol said it would offer holders of the preference shares with a nominal value of EUR1,000 - EUR475 of cash and EUR500 in a 10-year bond with a 3.5% coupon. 

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