Lebanon Launches Bond Exchange Offer

The Wall Street Journal

Lebanon said it was offering some of its bond holders the opportunity to exchange their debt for new, longer-dated bonds. "The purpose of the exchange offer is to proactively conduct liability management operations, increase the Republic's financial flexibility and extend its debt maturity profile," a release said.The bonds qualified for exchange are the 9.125% bond due March 2013, and the 8.625% bond due June 2013. The outstanding amount on the former is $875 million, and the latter $650 million.

Source: The Wall Street Journal


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