Foreign Bondholders Join Lebanese Debt Restructuring Chorus

Some foreign holders of Lebanon’s Eurobonds are expressing support for a government debt restructuring as the clamor grows among local politicians to skip a payment due in weeks.

At a private meeting days ago with government representatives, a number of foreign funds that own Lebanese sovereign bonds, including a $1.2 billion note due March 9, argued that the crisis-ridden country would be better off restructuring rather than paying its debt, said a person familiar with the matter, declining to identify the investors.