File - The Finance Ministry in Riad al-Solh Square, Beirut (The Daily Star)
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Lebanese banks and foreign investors will be able to bid for $1 billion in sovereign Eurobonds in the coming weeks, financial industry sources said Wednesday.The ministry source added that the interest rate and maturity period of the new Eurobond issue have not been set yet.Central Bank Governor Riad Salameh has asked Lebanese banks to subscribe to the Eurobond issue and expects foreigners to grab a small part of the new issue.Bankers noted that foreign subscription to Lebanese Eurobonds has never exceeded 30 percent of all the foreign debt, with the remainder are held by local banks and the central bank.
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