Demand high for Lebanon Eurobonds due to interest rate
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Demand high for Lebanon Eurobonds due to interest rate
by Admin Fri Mar 14, 2008 8:54 am
Low interest rates abroad will help boost demand for Eurobonds issued by Lebanon, central bank governor Riad Salameh said on Thursday.
Lebanon raised $875 million last week to refinance maturing debt through a five-year Eurobond. The country, which has public debt of some $42.06 billion, has Eurobonds worth $1.5 billion maturing later this year.
"Regarding the remaining Eurobond maturities, the governor expected more success because the reduction in interest rates abroad will help increase demand for Eurobonds in Lebanon," a statement issued by the central bank said.
The Eurobond issued last week carried a coupon of 9.125 percent.
Lebanon raised $875 million last week to refinance maturing debt through a five-year Eurobond. The country, which has public debt of some $42.06 billion, has Eurobonds worth $1.5 billion maturing later this year.
"Regarding the remaining Eurobond maturities, the governor expected more success because the reduction in interest rates abroad will help increase demand for Eurobonds in Lebanon," a statement issued by the central bank said.
The Eurobond issued last week carried a coupon of 9.125 percent.
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