Lebanon to Sell $1.2 Billion of Bonds to Refinance Maturing Debt

Lebanon hired Blom Bank SAL (BLOM) and Citigroup Inc. (C) to sell $1.2 billion of Eurobonds to roll over debt maturing next month.

The country will sell five-year bonds paying an annual coupon of about 4.75 percent and debt maturing in 2022 that pays 6.2 percent, Blom said in an e-mailed statement.

The Arab nation has a $750 million bond maturing Aug. 2, according to data compiled by Bloomberg. It also needs to pay about $200 million in interest next month, according to the Association of Banks in Lebanon.

To contact the reporter on this story: Massoud A. Derhally in Beirut, Lebanon at mderhally@bloomberg.net

To contact the editors responsible for this story: Louis Meixler at lmeixler@bloomberg.net

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