LONDON - Lebanon's dollar bonds tumbled to new record lows on Monday after the government declared on Saturday it could not pay forthcoming debt maturities.

Several issues fell more than 7 cents XS1196419854=TE , XS1586230481=TE , XS1419879769=TE to as low as 17.5 cents in the dollar, according to Tradeweb data.

With a $1.2 billion bond due on Monday, Lebanon's announcement sets the stage for its first sovereign debt default. 

(Reporting by Tom Arnold; Editing by Alison Williams) ((Tom.Arnold@thomsonreuters.com; +442075428510; Reuters Messaging: tom.arnold.thomsonreuters.com@reuters.net))