Lebanon’s Yields Hit 1,000% as Government Calls in Bond Advisers - Bloomberg:
A bond yield soars to more than 1,000%? It just happened with Lebanon.
The nation’s next maturing Eurobond, $1.2 billion of notes due on March 9, fell to a record low of 60 cents on Wednesday, sending the annualized yield to 1,290%.
What’s the latest?
The Beirut-based Al-Akhbar newspaper reported Wednesday that the Lebanese government will formally ask financial and legal advisers how it should handle its Eurobonds, with a view to potentially restructuring them. Lebanon is reaching out to banks including Citigroup Inc., Rothschild & Co. and JPMorgan Chase & Co., the newspaper said. It didn’t say where it got the information.
Meanwhile, the International Monetary Fund is sending a team to Beirut between Feb. 20 and 23 to discuss Lebanon’s economic issues with government officials, spokesman Gerry Rice said.
A bond yield soars to more than 1,000%? It just happened with Lebanon.
The nation’s next maturing Eurobond, $1.2 billion of notes due on March 9, fell to a record low of 60 cents on Wednesday, sending the annualized yield to 1,290%.
What’s the latest?
The Beirut-based Al-Akhbar newspaper reported Wednesday that the Lebanese government will formally ask financial and legal advisers how it should handle its Eurobonds, with a view to potentially restructuring them. Lebanon is reaching out to banks including Citigroup Inc., Rothschild & Co. and JPMorgan Chase & Co., the newspaper said. It didn’t say where it got the information.
Meanwhile, the International Monetary Fund is sending a team to Beirut between Feb. 20 and 23 to discuss Lebanon’s economic issues with government officials, spokesman Gerry Rice said.
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