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Lebanon to delay $2 bln Eurobond, committed to paying maturities on time

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The Lebanese government is delaying a Eurobond issuance of $2 billion that had been planned for the end of the month but is fully committed to paying its maturing Eurobonds on time, caretaker Finance Minister Ali Hassan Khalil said on Saturday.

“Lebanon is committed to paying maturing treasury bonds in foreign currency, Eurobonds, at their predetermined dates and this commitment is confirmed,” Khalil told Reuters.

He added that a plan for a forthcoming Eurobond issuance had been delayed. “It had been expected to be issued at the end of this month at the value of $2 billion,” he said.

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Lebanon has a $1.5 billion Eurobond maturing this month.

The central bank has said it stands ready to pay off Lebanon’s forthcoming maturing foreign currency debt.