| DUBAI, March 2
DUBAI, March 2 The government of Lebanon has
appointed four banks for an international bond issuance that
will take place on March 20, a source at the ministry of finance
and Lebanese banking sources said on Thursday.
Barclays, JP Morgan, Byblos Bank
and Societe Generale de Banque au Liban (SGBL) have received a
draft mandate to arrange the debt sale which will be made
official over the next two days, the government source said,
speaking on condition of anonymity because the information is
The bond size will be a minimum of $1.5 billion and will be
settled on March 20, when a $1.5 billion outstanding bond is due
for redemption, the source said.
Lebanon’s most recent international debt issuance was a $1
billion bond in April 2016, split between an April 2024 tranche
and an April 2031 tranche.
In May last year the government increased the amount of its
public debt by swapping local currency debt into $2 billion
worth of Eurobonds.
Lebanon is rated B2 by Moody's, and B-minus by Standard &
Poor’s and Fitch.
(Editing by Jason Neely)