Lebanon this week issued its largest-ever Eurobond, raising $2.2bn to meet the state’s short-term needs in 2015. More than twice oversubscribed, Lebanese Finance Minister ‘Ali Hasan Khalil said the issue showed that the country was still attractive for business despite the current political uncertainties, and that there is still confidence in its future.
The Lebanese government needs to issue a total of $4.4bn in Eurobonds in 2015, but only has authorization for $2.5bn, the minister said, leaving it open to issue bonds for a further $300mn this year. The government will seek parliament’s approval for the remaining $1.9bn over the coming months. (CONTINUED - 690 WORDS)