JPMorgan to Pay $5 Billion for Argentina Bonds From Repsol

Source: Bloomberg
By: Katia Porzecanski

05.13.2014

JPMorgan Chase & Co. (JPM) agreed to buy Argentine government bonds from oil producer Repsol SA (REP) for $2 billion, bringing its purchases of the country’s securities to about $5 billion in less than a week. JPMorgan, which has already sold some of the Argentine bonds received from the first purchase, is wagering that its remaining holdings will gain in value, a person with direct knowledge of the bank’s strategy said earlier this week.

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