Lebanon News: Bonds Sink as Debt Crisis Continues - Bloomberg:
As investors count down to Lebanon’s next bond maturity on March 9, a fresh meltdown in the debt market reflects their concern over the government’s solvency.
Many of the crisis-ridden nation’s Eurobonds have slumped to record lows as relief over the formation of a new government last week proved to be short-lived:
As investors count down to Lebanon’s next bond maturity on March 9, a fresh meltdown in the debt market reflects their concern over the government’s solvency.
Many of the crisis-ridden nation’s Eurobonds have slumped to record lows as relief over the formation of a new government last week proved to be short-lived:
- The price of the $1.2 billion security due in March has declined 5 cents this week to 76 cents on the dollar, a record low; that equates to a yield to maturity of almost 300%
- A $2.1 billion bond maturing in April 2021 slid below 50 cents for the first time this week and traded at 45 cents on Wednesday
- Notes due May 2029 have fallen 8 cents in the past five trading days to 34 cents
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