March 4, 2020 / 9:46 AM / a month ago

Lebanon finance minister proposed Eurobond swap to local banks -source

BEIRUT, March 4 (Reuters) - Proposals for tackling Lebanon’s looming Eurobond maturities include one from Finance Minister Ghazi Wazni to swap local banks’ holdings in the debt for a new bond paying less interest, and to keep paying the Eurobond debt, a source familiar with the matter said.

The source was confirming a report in Lebanon’s al-Akhar daily. “The banks didn’t respond yet with a yes or no,” the source said, adding that different proposals were still being floated. (Reporting by Tom Perry and Ellen Francis; editing by John Stonestreet)

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