Lebanon Businessnews News
 

CDs issue: oversubscribed
Central Bank receives bids five times the size of the issue
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The new securities were divided into five-year CDs with a rate of 7.2 percent, and seven-year CDs with a yield of 7.9 percent, and another with a variable rate of 6.5 percent.

The Central Bank resumed selling CDs on March 4, after eight months of halting issuance of the securities; it sold $233 million of CDs, a issue that was seven times oversubscribed.

Interest rates on five year CDs dropped ten basis points from 7.3 percent in the first issue while fixed interest rates on seven years CDs fell ten basis points from eight percent.

Date Posted: Mar 15, 2010
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