BEIRUT: Lebanon plans to refinance about $1.29 billion of bonds denominated in euros and dollars this year, Minister of Finance Mohammad Safadi said.

“We are going to roll them over definitely,” Safadi said in a telephone interview Thursday. Asked when the government would send out a request for proposals from banks, Safadi said “not before four weeks.”

Lebanon has about $2.52 billion of Eurobonds due this year, including interest payments, with maturities in March, April, July and September, according to data from the Finance Ministry.

Moody’s Investors Service rates Lebanon B1, four levels below investment grade. Standard & Poor’s rates the country B, five steps below investment grade.