Lebanese Eurobonds Kept their Momentum for the Third Session in a Row

The Lebanese Eurobonds Market remained in the green for the third session running, as the BLOM Bond Index (BBI) gained 0.18% to 102.90 points. Yields on the 5Y and 10Y Lebanese Eurobonds dropped 2 basis points (bps) each to 6.47% and 6.88%, respectively. In the US, demand for medium term maturities dropped, narrowing the 5Y yield spread between the Lebanese Eurobonds and their US comparable by 6 bps to 484 bps. As for the 5Y Credit Default Swaps, they tightened marginally from 407-427 to 406-426 bps.

BBI CLOSING

 

	Last	Previous	Change		Y-t-D Change
BBI	102.896	102.712	0.179%		-4.26%
Weighted Yield	6.40%	6.44%	-4	bps
Duration (Years)	5.24	5.24
5Y Bond Yield	6.47%	6.49%	-2	bps
5Y Spread*	484	490	-6	bps
10Y Bond Yield	6.88%	6.90%	-2	bps
10Y Spread*	470	475	-5	bps

*Between Lebanese and U.S notes

LEBANESE EUROBONDS INDICATIVE PRICES AND YIELDS

	Price	Yield	Yield Change (in bps)
Mar. 2017	104.5	5.36%	-10
Oct. 2017	99.25	5.43%	-14
Jun. 2018	99.25	5.47%	-11
Nov. 2018	99.00	5.52%	-9
Apr. 2019	98.5	5.99%	0
May. 2019	99.5	6.16%	0
Nov.2019	97.5	6.17%	0
Mar. 2020	100.25	6.30%	0
Apr. 2020	98	6.33%	0
Apr. 2021	107.5	6.56%	-5
Oct. 2022	97.5	6.56%	0
Jan. 2023	96.75	6.58%	-5
Nov. 2024	97.25	6.66%	4
Dec. 2024	102.13	6.68%	-2
Feb. 2025	96.5	6.71%	-8
Jun. 2025	96.5	6.75%	-7
Nov. 2026	97.5	6.93%	-3
Nov. 2027	98.13	6.98%	-6
Nov. 2028	96.5	7.07%	-1
Feb. 2030	95.5	7.16%	-3
Nov. 2035	98	7.24%	-2

 

 

5Y SPREAD BETWEEN LEBANESE AND U.S. NOTES