Middle East Economic Survey

VOL. LIV

No 22

30-May-2011

Lebanon

Lebanons $1Bn Eurobond More Than Twice Oversubscribed

Lebanons latest Eurobond issue, which closed on 18 May, was more than twice oversubscribed at $2.3bn, but the government only needed $1bn to roll over its maturing bond. Fransabank, Byblos and HSBC were given the mandate to market the new issue, which was divided into two tranches $650mn maturing in 2019 at a yield of 6%, and $350mn maturing in 2022 at a yield of 6.575%....