Lebanon in no rush to issue Eurobond on May 20: Source

A man uses an ATM outside a bank, in Beirut, Lebanon, Tuesday, Jan. 22, 2019. (AP)

Lebanon is in no rush to close a deal to issue $2.5 billion to $3 billion in Eurobonds and can do so later when emerging markets have more appetite and local yields have improved after the approval of the state budget, a source said on Wednesday.

The finance minister said last month the government was preparing to issue the Eurobonds on May 20.

The issue is designed to finance all of Lebanon’s maturing foreign currency principal for 2019, including a $650 million bond that matures on May 20, the source familiar with the matter said.

Last Update: Wednesday, 20 May 2020 KSA 09:55 - GMT 06:55