Middle East Economic Survey


No 49


Lebanon Raises $1.375Bn In New Eurobond Issue

The Lebanese government on 29 November put together a three-tranche Eurobond for a total of $1.375bn, lead managed by Credit Suisse First Boston, Deutsche Bank and BLOM bank. The first tranche of $425mn has a maturity date of 14 December 2009, with a 7% coupon and a spread of 349 basis points over five-year US Treasuries. The issue price was 99.482. The second tranche of $625mn has a maturity...