VOL. XLV

No 10

11-March-2002

LEBANON

Lebanon Converts Domestic Debt To$1Bn Eurobond

In a further bid toimprove its debt burdened economic fundamentals, the Lebanese Government hasconverted around $1bn worth of domestic debt into a cheaper three-year Eurobondissue carrying a 10.25% interest rate and reportedly saving some $60mn perannum in debt servicing. A statement issued by the Lebanese Ministry of Financeon 6 March confirmed that the Central Bank of Lebanon was the sole subscriberto the debt...