Lebanon launches US$1.6bn triple-tranche bond

viernes 30 de octubre de 2015 10:57 GYT

By Sudip Roy

LONDON, Oct 30 (IFR) - The Lebanese Republic has launched a triple-tranche new issue that totals US$1.6bn.

The sovereign has launched a US$500m November 2024 bond at a yield of 6.25%; a US$500m November 2028 tranche at 6.65%; and a US$600m November 2035 note at 7.05%.

The size for the 2024 and 2028 bonds includes the results of an exchange of the sovereign's US$750m 8.5% January 2016s.

Aggregate books for the deal ended at over US$1.3bn, with Lebanon's Central Bank expected to buy US$500m.

Citigroup, Fransabank, Societe Generale de Banque au Liban and Standard Chartered Bank are running the deal. The transaction will price later on Friday.

Lebanon is rated B2 by Moody's, B- by Standard & Poor's and B by Fitch. (Reporting by Sudip Roy; editing by Alex Chambers)