Mobile  |  About us  |  Photos  |  Videos  |  Subscriptions  |  RSS Feeds  |  Today's Paper  |  Classifieds  |  Contact Us
The Daily Star
MONDAY, 21 APR 2014
03:10 PM Beirut time
Weather    
Beirut
21 °C
Blom Index
BLOM
1,214.01down
Lebanon
Follow this story Print RSS Feed ePaper share this
Lebanon to swap $1.6B of Eurobonds
The Finance Ministry building is seen in Beirut. (The Daily Star/Mahmoud Kheir)
The Finance Ministry building is seen in Beirut. (The Daily Star/Mahmoud Kheir)
A+ A-

BEIRUT: Lebanon intends to tap the local market this week to swap close to $1.6 billion of maturing Eurobonds, bankers said Tuesday.

According to the bankers, $677 million of Eurobonds will mature in April and another $882 million will mature in May.

The co-managers for the new issue have not been named.

“The Central Bank usually engineers the entire swapping operations in coordination with the Finance Ministry,” one banker told The Daily Star.

Lebanese banks usually snap up most of the Eurobonds issues.

The rates and the yields are normally determined by the Central Bank while the co-managers seek to market the issue.

Bankers said that the swapping of the Eurobonds usually take place one month at least before the maturity of the bonds.

“I don’t think the Finance Ministry has any intention to delay the swapping operation. This policy of swapping the bonds has been applied by all the successive finance ministers,” one banker said.

He expected a decision to swap the Eurobonds in one week.

In February 2013, the Central Bank sold $2.2 billion of sovereign Eurobonds and swapped LL6 trillion of 2013 and 2014 certificates of deposit with longer maturity ones.

 
A version of this article appeared in the print edition of The Daily Star on February 19, 2014, on page 5.
Home Lebanon
 
     
 
economy / Lebanon / Economics
Advertisement
Comments  

Your feedback is important to us!

We invite all our readers to share with us their views and comments about this article.

Disclaimer: Comments submitted by third parties on this site are the sole responsibility of the individual(s) whose content is submitted. The Daily Star accepts no responsibility for the content of comment(s), including, without limitation, any error, omission or inaccuracy therein. Please note that your email address will NOT appear on the site.

comments powered by Disqus
Story Summary
Lebanon intends to tap the local market this week to swap close to $1.6 billion of maturing Eurobonds, bankers said Tuesday.

Bankers said that the swapping of the Eurobonds usually take place one month at least before the maturity of the bonds.

In February 2013, the Central Bank sold $2.2 billion of sovereign Eurobonds and swapped LL6 trillion of 2013 and 2014 certificates of deposit with longer maturity ones.
Related Articles
 
 
Bankers: raising taxes would wreak havoc
 
 
Lebanon lifts banking secrecy 17 times in 2013
CSR Lebanon: Banks should support startups
 
 
Salameh: Banking sector should remain apart from political disputes
 
 
BankMed confirms strong growth in 2013
Entities
Advertisement


Baabda 2014
Advertisement
Follow us on Facebook Follow us on Twitter Follow us on Linked In Follow us on Google+ Subscribe to our Live Feed
Multimedia
Images  
Pictures of the day
A selection of images from around the world- Monday April 21, 2014
View all view all
Advertisement
Rami G. Khouri
Rami G. Khouri
Why Israeli-Palestinian talks fail
Michael Young
Michael Young
Why confuse gibberish with knowledge?
David Ignatius
David Ignatius
Echoes of 1914 characterize the Ukraine crisis
View all view all
Advertisement
cartoon
 
Click to View Articles
 
 
News
Business
Opinion
Sports
Culture
Technology
Entertainment
Privacy Policy | Anti-Spamming Policy | Disclaimer | Copyright Notice
© 2014 The Daily Star - All Rights Reserved - Designed and Developed By IDS