Lebanon’s Eurobond attracted bids 3 times the size of the issue

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raya hassanLebanon’s $1.2 billion 10-year Eurobond attracted bids about three times the size of the issue, traders said on Tuesday, indicating strong demand for the country’s sovereign issues.

Lebanon sold the Eurobond at the end of last week with a coupon of 6.375 percent. The maturity date is March 9, 2020.

“The final orderbook was $3.39 billion,” a trader said, citing robust demand from Lebanon and Europe.

Lebanese Finance Minister Raya al-Hassan told Reuters last week that when the next Eurobond maturity is due in November, either an exchange would be considered before then or refinancing at the time of maturity.

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