Distressed-Debt Funds Team Up as Lebanon Bonds Plunge to Records
- Bondholders are ready to engage with the government: Greylock
- Lebanon must restructure as soon possible: Franklin Templeton
Security forces face protesters in Beirut on Feb. 11.
Photographer: Mahmut Geldi/Anadolu Agency via Getty ImagesThis article is for subscribers only.
Lebanon’s foreign debt sank to a record low as speculation mounted that the government may not repay a $1.2 billion Eurobond due in less than a month.
Investors are pondering what shape a default might take, with the crisis-ridden nation’s government wrangling over whether to continue servicing its liabilities. Distressed-debt investor Greylock Capital Management and Switzerland-based Mangart Capital Advisors announced they and other bondholders had formed a group to talk to the government about its options.