Demand high for Lebanon Eurobonds due to interest rate

 

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.