Minister: New Accords Between Lebanon, Bahrain in the Pipeline
New transportation and economic treaties between Bahrain and Lebanon are in the pipeline, said Lebanese Finance Minister Fouad Sanyouri on Monday.
The Lebanese economy is on the road to recovery, with a growth of two to three per cent expected for this year, he said in Manama, where he was to take part in a presentation on Lebanon’s $400 million Euro-bond issue, aimed at converting domestic debt, said the Gulf Daily News.
Leading bankers attended the presentation, which was the first stop in a road show that is being staged in the US and Europe, besides the Middle East.
The issue is being lead managed jointly by Schroders Solomon Smith Barney (SSSB), which is part of Citigroup, and Merrill Lynch.
Lebanon has been an active issuer in the Euro-bond market, this being the 16th issue since 1994, said Sanyouri.
However, this is the first time that an effort is being made to bring in a large group of international investors.
Middle Eastern investors are an important component of this diversification strategy, said the paper.
“Lebanon is very keen to conclude these agreements as soon as possible, as they will benefit both parties and all the Arab world,” he said.
Investment in Lebanon is becoming increasingly attractive, with the Lebanese economy on the road to recovery, and with the implementation of a comprehensive package of investment-friendly regulations and infrastructure, he said – Albawaba.com