Lebanese Eurobonds, inevitable default or trade of a lifetime

While the size of Lebanese debt is formidable, it is almost all internal and circular, and can (and should) be resolved over a weekend of tough, candid conversations.
by Dan Azzi

18 November 2019 | 19:48

Source: by Annahar

  • by Dan Azzi
  • Source: Annahar
  • Last update: 18 November 2019 | 19:48

A door of a closed bank is spray painted with a message in Arabic that reads, "Down with the rule of the banks," in Beirut, Lebanon, Tuesday, Nov. 12, 2019. (AP Photo)

Lebanese Eurobonds are trading at yields-to-maturity touching 80%, and these are the ones due in April 2020. Credit Default Swap levels have hit 5000 bps, up from the already ludicrous 1,500 level...
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