Lebanon Wants Voluntary Swap of March Eurobonds Into Longer Debt

Lebanon’s central bank wants local holders of a $1.2 billion Eurobond maturing in March to swap into new notes as part of an effort to manage its debt crisis, Bloomberg News reported. “We are making preemptive proposals that are voluntary” and dependent on the consent of Lebanese banks, Governor Riad Salameh said in an interview in Beirut. “We haven’t taken any decision yet because we don’t have a government.” The plan would help the Arab nation, one of the world’s most indebted, as it struggles with its worst economic crisis in decades. Prime Minister Saad Hariri was forced to resign in October after weeks of protests over government corruption and mismanagement, but remains in a caretaker role. Read more

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