Latham & Watkins Advises Repsol E&P on US$2.5 Billion Bond Offering
Latham & Watkins LLP has advised Repsol E&P S.à r.l. (“Repsol E&P”), the holding company of the exploration and production (Upstream) business of Repsol, S.A. (“Repsol”) Group, on its landmark U.S. bond issuance.
Repsol E&P, through its indirect wholly owned subsidiary Repsol E&P Capital Markets US LLC, has successfully priced three series of bonds in the U.S. market for a total of US$2.5 billion.
The transaction represents the largest U.S. dollar bond issuance in Repsol’s history and the first-ever U.S. market offering by Repsol E&P Group, one of the world’s leading independent oil and gas producers. Settlement is expected on September 16, 2025.
The issuance attracted strong investor demand, with the order book reaching 6.9 times the amount offered, reflecting market confidence in Repsol E&P’s financial strategy. The deal strengthens the company’s capital position while broadening access to U.S. investors.
Repsol is a global multi-energy company headquartered in Madrid, operating across the entire energy value chain from exploration and production to refining, chemicals, renewables, and mobility solutions. With a strong focus on innovation and sustainability, Repsol is driving the energy transition while maintaining a significant international presence in capital markets.
Latham & Watkins’ deal team was led by corporate partners Marc Jaffe, Ian Schuman, Nick Dhesi, and Manoj Tulsiani, supported by associates Kaj Nielsen, Sarah Rodrigue, Carolina Gori, Caitlyn Fiebrich, Armaan Bhimani, and Jennifer Pitsch. The firm also provided specialist advice across multiple disciplines:
-
Tax: partners Tim Fenn, Jared Grimley, and Karl Mah; associate Johnny Zhuang
-
Environmental: partners Joshua Marnitz and Michael Green; associates Brandon Kerns and James Bee
-
ESG: partner Betty Huber
-
Compliance: partners Charles Claypoole and Eric Volkman; associates Ragad Alfaraidy and Thomas Lane
-
Antitrust: partner Jonathan Parker
-
ERISA: partner Adam Kestenbaum; counsel Krisa Benskin
Latham & Watkins LLP is a leading global law firm known for its expertise in corporate, litigation, and transactional law. With over 2,000 attorneys in 14 countries, the firm advises clients across a wide range of industries, including technology, healthcare, finance, and energy. Founded in 1934, Latham & Watkins is renowned for its work with emerging companies, offering legal solutions for startups and growth-stage businesses. The firm’s Emerging Companies & Growth team helps navigate complex legal matters related to business formation, financing, and scaling, making it a trusted partner for innovative companies worldwide.
More Articles
