Lebanese Eurobonds Started the Week with a Slight Slip

In the Lebanese Eurobonds’ market today, the Ministry of Finance completed a successful issuance of $2.2B Eurobonds maturating in 10Y and 15Y with respective yields of 6.20% and 6.65%. Lead managers were BLOM Bank, Citi, and Societe Generale de Banque au Liban. Excluding the new issuance, the BLOM Bond Index (BBI) recorded a decline of 0.07% to 106.88 points. The 5Y and 10Y Eurobonds’ yields increased by 2 basis points (bps) and 1 bp to settle at 5.28% and 6.21%, respectively. The spread between the 5Y Lebanese Eurobonds and their US comparable upturned by 7 bps to 372 bps as demand for US medium term securities strengthened. Furthermore, Lebanon’s 5Y Credit Default Swaps (CDS) maintained at 371-393 bps.

Leave a Reply

Your email address will not be published. Required fields are marked *