|16 July, 2019

Prospect of Saudi support lifts Lebanon dollar bonds

Lebanon's dollar-denominated government bonds rose on Tuesday after reports that Saudi Arabia is preparing to support Lebanon through its economic challenges.

One hundred dollar notes are seen in this photo illustration at a bank in Seoul January 9, 2013. Image used for illustrative purpose.

One hundred dollar notes are seen in this photo illustration at a bank in Seoul January 9, 2013. Image used for illustrative purpose.

REUTERS/Lee Jae-Won

LONDON- Lebanon's dollar-denominated government bonds rose on Tuesday after reports that Saudi Arabia is preparing to support Lebanon through its economic challenges.

The 2024, 2025 and 2027 issues all climbed more than 0.8 cents in the dollar after three Lebanese ex-premiers on Monday indicated Saudi might provide fresh backing to heavily indebted Lebanon. 

(Reporting By Tom Arnold, editing by Karin Strohecker) ((Tom.Arnold@thomsonreuters.com; +442075428510; Reuters Messaging: tom.arnold.thomsonreuters.com@reuters.net))

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