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Lebanon to issue US$500 million Eurobond this month
Source: BI-ME and Bloomberg , Author: BI-ME staff
Posted: Sat November 7, 2009 1:07 pm
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LEBANON. The Lebanese government has appointed Bank of Beirut SAL to lead the sale of US$500 million in Eurobonds reported Bloomberg, citing a bank official.

The bank's Assistant General Manager Najib Semaan confirmed the appointment to the news provider by phone on Friday, adding that "the bank expects to offer the Eurobonds this month". 

The government named Societe Generale de Banque au Liban SAL and Citigroup Inc. as co-managers for the sale.

Lebanon last sold Eurobonds in March, when it swapped some of its maturing debt.

The bond sale should help “ascertain the confidence of investors in the Lebanese financial system because the government extended the maturity period to 2024 within the current market rates,” Semaan said.

MIDDLE EAST BUSINESS COMMENT & ANALYSIS

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