Twelve firms invited to bid
to bid for financial advisor

Looking at all options

and repercussions concerning debt

The Ministry of Finance said it has invited 12 financial consultancy firms to bid for an advisory role to help it set a financial plan for rescheduling and restructuring the public debt.

The firms are Rothschild & Co, Guggenheim Partners, Citibank, Lazard, JP Morgan, PJT Partners, Houlihan Lokey, Newstate Partners, Standard Chartered, GSA Partners, Deutsche Bank, and White Oak.

The invitation for bids does not “mean Lebanon decided on restructuring but it means Lebanon is studying all options and subsequent repercussions,” a person familiar with the matter told the Reuters news agency on Wednesday.

The government has not yet decided whether it will default on a $1.2 billion Eurobond that will be due in March.