These are uncertain times in global markets. So one might have expected a certain reticence from investors when a recently downgraded sovereign, which is unable to elect a president and has ISIS pushing at its borders, tried to launch its biggest-ever bond. In fact, it flew out the door.
On February 23, the Lebanese Republic launched $1.4 billion of 15-year bonds and $800 million of 10-year paper. It did so at 6.65% on the longer-dated tranche, 6.2%
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