With the local political and security developments dominating in 2015 combined with macroeconomic changes in the global front, the Lebanese Eurobonds market witnessed a lackluster performance. Nevertheless, in 2015 the Lebanese government allotted 2 successful Eurobond issuances worth $3.8B. In turn, the government managed to extend the portfolio’s duration from 4.07 years in 2014 to 5.19 in 2015 while the weighted yield increased from 5.24% to 6.14%, over the same period. Due to the recent increase of interest rates in the US, and the recent downgrade of Lebanon’s sovereign credit rating, the bond market is likely to see higher yields in the coming future.
To read the full report, click on the link below:
Lebanon’s Eurobonds Market in 2015