New Issue: Lebanon sells $750 million 10-year bonds to yield 8 5/8%

By Reshmi Basu

New York, Oct. 6 - The Lebanese Republic sold $750 million of bonds due January 2016 (B3/B-/B-) at 99.182 with an 8½% coupon to yield 8 5/8%, according to a market source.

The issue priced at a spread of 426 basis points more than Treasuries.

Banque Audi, Banque Med and Citigroup were joint lead managers for the Rule144A/Regulation S transaction.

Issuer:	The Lebanese Republic
Amount:	$750 million
Maturity:	Jan. 19, 2016
Coupon:	8½%
Issue price:	99.182
Yield:	8 5/8%
Spread:	426 basis points more than Treasuries
Pricing date:	Oct. 6
Settlement date:	Oct. 18
Joint lead managers:	Banque Audi, Banque Med, Citigroup
Ratings:	Moody's: B3
	Standard & Poor's: B-
	Fitch: B-

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