November 10, 2017 / 8:57 AM / a year ago

Lebanon dollar bonds slammed again by rising regional tensions

LONDON, Nov 10 (Reuters) - Lebanon’s sovereign dollar bonds came under renewed pressure on Friday, with some issues falling more than 2 cents amid rising regional tensions in the wake of Prime Minister Saad al-Hariri’s resignation nearly a week ago.

The 2024 bond dropped as much as 2.5 cents to trade at 91.3 cents, having lost 7.5 cents since the start of the week, according to Thomson Reuters data. The bond maturing in 2032 lost as much as 2.15 cents to 86.6 cents.

Most issues across the curve were trading around multi-year or record lows.

On Thursday, three Gulf states advised their citizens against traveling to Lebanon and asked those already there to leave as soon as possible, amid rising tensions between Saudi Arabia and Iran over Lebanon and Yemen.

Reporting by Karin Strohecker; Editing by Jamie McGeever

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