The Lebanese government is believed to be considering a $500 million international bond issue to cover debt payments reaching maturity. This follows the treasury’s June 2005 two-part $500 million Eurobond issue, half with a three-year maturity at 7.5% interest and half at an eight-year maturity with 8.75% interest. The issue covered $352 million of Eurobonds that matured in the same month.
The rumours notwithstanding, Amine Awad of the Banking Control Commission, Lebanon’s independent banking supervisory authority, believes a small domestic issue could take place before another international issue.
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