LONDON - Lebanon's dollar-denominated sovereign bonds fell and the cost of insuring exposure to its debt rose on Wednesday after Washington sanctioned three top Hezbollah figures, including two members of the country's parliament.
Dollar bonds came under pressure across the curve with the 2029 and 2035 issues racking up some of the biggest declines, falling more than 1 cent, according to Tradeweb data.
Meanwhile, 5-year credit default swaps (CDS) jumped 17 basis points (bps) from Tuesday's close to 925 bps, according to IHS Markit. CDS last traded at these levels in January, when comments by government officials about a potential debt restructuring rattled Lebanon investors.
(Reporting by Karin Strohecker; Editing by Tom Arnold) ((firstname.lastname@example.org; +442075427262; Reuters Messaging: email@example.com))