Wednesday 30, May 2018 by Kudakwashe

Lebanon central bank sells $3 billion in Eurobonds

The Banque du Liban has sold $3.02 billion of Eurobonds, more than three times the $1 billion it had planned to sell, with a high demand from local investors.

  

The 29 May 2018 sale was of bonds maturing between 2028 and 2034 and yielding from seven percent to 8.25 per cent reported Zawya.

The central bank acquired the Eurobonds through two debt swaps with the Ministry of Finance.

The Central bank, which this month said it intended to sell $2 billion of Eurobonds over the coming year, said it planned no further sales of Eurobonds from its portfolio in 2018.

On May 18, the Lebanese government completed a $5.5 billion debt swap with the central bank, issuing it with Eurobonds in exchange for Lebanese pound T-Bills. 

The ministry said the swap secured its foreign currency financing needs until the end of 2018 and also strengthened the central bank's dollar reserves.

 

 

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