$1.6 billion Eurobonds on offer

Deutsche Bank, Byblos Bank, and
Bank Audi selected

The Ministry of Finance announced the launching of an offer for Eurobonds issuing worth $1.6 billion by the end of March, in order to finance public needs.

The Minister of Finance Ali Hassan Khalil said: “The Ministry was seeking to rollover $771 million of bonds that will expire next April, and exchange $882 million worth of bonds due in May.”

“The bond maturities will vary between six and 12 years,” he said.

The ministry chose Deutsche Bank, Byblos Bank, and Bank Audi to manage the offers of both April and May Eurobonds.

The offer will be officially launched on March 31 and will close by April 11.

“Total public debt stood at $63.48 billion at the end of 2013, a ten percent increase from the previous year,” said Khalil.