Lebanon May Ask Banks to Buy Back Bonds Sold to Foreign Funds - Bloomberg:
Lebanese officials are considering asking local banks to buy back Eurobonds they sold to foreign funds, after the transactions gave outside creditors more leverage in a potential restructuring discussion if the government decides to default, former Finance Minister Ali Hasan Khalil said.
Khalil, who was at a meeting Monday with bankers and officials to discuss whether to repay a $1.2 billion Eurobond due next week, said that one of the ideas discussed with lenders was to have them buy back “enough” debt to regain a majority of votes in restructuring talks, according to a statement carried by Al-Akhbar newspaper.
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