March 20, 2017 / 4:04 PM / 9 months ago

Lebanon launches US$3bn bond deal

LONDON, March 20 (IFR) - The Lebanese Republic is set to raise US$3bn via a triple-tranche bond offering, according to a lead.

The issuer has launched a US$1.25bn March 2027 bond at 6.85%. The 10-year notes were initially marketed at 6.95% area.

Lebanon has also launched a US$1bn March 2032 bond at a yield of 7%, after initial price thoughts at 7.125% area, and a US$750m March 2037 bond at 7.25%. The 20-year notes were marketed originally at 7.35% area.

The total order book was over US$17bn when final yields were set.

Pricing is today via bookrunners Barclays, Byblos Invest Bank, JP Morgan and Societe Generale de Banque au Liban.

Lebanon is rated B2/B-/B-. (Reporting by Robert Hogg, Editing by Helene Durand)

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