LONDON (Reuters) - Argentina and Repsol
Under the terms of the deal, Repsol will receive various bonds with a total nominal value of around $5.5 billion, including already-issued Argentine dollar-denominated bonds and a new ad-hoc 10-year bond worth $3 billion, the source said.
"The important part of this deal is that Argentina recognizes $5 billion of debt to Repsol over the expropriation," the source told Reuters on condition of anonymity.
A market source confirmed the deal was comprised of already-issued Argentine bonds and a new 10-year bond.
The agreement still needs approval from Argentina's Congress and from Repsol's board of directors and shareholders. The board of the Spanish company is due to discuss the matter on Tuesday.
Repsol declined to comment.
A spokeswoman for Argentina's economy ministry said the Latin American country would not unveil any detail on the deal until it is signed. The government will abide by the confidentiality clause, she also said.
(Additional reporting by Alex Chambers and Alejandro Lifschitz; Writing by Tracy Rucinski; Editing by Julien Toyer)