|19 February, 2020

Lebanon bonds slide to record lows on "ideal" debt restructuring talk

As heavily-indebted Lebanon battles its worst ever financial crisis

Image used for illustrative purpose. Lebanese Currency.

Image used for illustrative purpose. Lebanese Currency.

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LONDON- Lebanon dollar-denominated bonds fell to record lows on Wednesday with some dropping as far as 29 cents on the dollar, after the country's parliament speaker was said to see a debt restructuring as an "ideal solution". -

As heavily-indebted Lebanon battles its worst ever financial crisis, the government is under growing pressure to decide what to do about its repayments, including a $1.2 billion Eurobond due on March 9.

Bond due for repayment from 2022 onwards dropped between 1 and 1.6 cents on the dollar to leave most trading at between 30 and 32 cents, according to Tradeweb and Refinitiv prices. -

(Reporting by Marc Jones; Editing by Tom Arnold) ((marc.jones@thomsonreuters.com; +44 (0)207 542 9033; Reuters Messaging: marc.jones.thomsonreuters.com@reuters.net Twitter @marcjonesrtrs))

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