VOL. XXXIX

No. 36

6-June-1996

LEBANON

Financing For Lebanon's Reconstruction Projects

A total of $85.6mn has been raised in Lebanon to finance the rehabilitation of the Casino du Liban in Jounieh and the reconstruction of the five-star Phoenicia Intercontinental hotel in Beirut. On 24 May, Casino du Liban signed a $50mn loan agreement, lead-managed by Banque Libano-Francaise, with 10 Beirut banks. The loan will be transformed by 31 July into a floating-rate 7-year promissory note which...