Up to $3 billion
in new Eurobonds

Preparation underway

with local and international banks

The government is preparing to issue Eurobonds worth $2.5 billion to $3 billion on May 20, said Minister of Finance Ali Hassan Khalil.

Khalil said the ministry is preparing for the new issue with local and international banks, according to Reuters.

"It is a regular issue according to plan and to the public debt strategy set by us and the Central Bank," he said.

Outstanding Eurobonds stood at nearly $31 billion at the end of 2018, according to the Ministry of Finance.

The new issue will further increase the escalating public debt, which reached $85.2 billion at the end of February 2019.

Yields on Lebanese Eurobonds ranged 9.44 percent to 10.35 percent on April 11.