Lebanon has appointed BLOM Bank, Byblos Bank and Deutsche Bank in order to co-manage the launch of at least $1 billion in eurobonds.
Bankers said that the issue should be completed at the end of April of this year.
The eurobond issue will replace some of the existing bonds that mature on April 22.
In February 2015, Lebanon launched a $2.2 billion sovereign eurobond, the largest single issue in the history of the country.
Successive Lebanese governments have been taping local and foreign markets to finance the public debt and cover the expenses of the government through the issuance of Eurobonds and treasury bills.
Lebanese lenders usually snap up most of the eurobonds issues as foreign appetite for these sovereign bonds has diminished over the past few years.
The head of the Association of Banks in Lebanon Joseph Torbey said recently that banks would have no problem financing the needs of the public and private sectors as long as customer deposits register a growth of $5 billion annually.
The practice of replacing the eurobonds is expected to continue in the same pattern as long as the government is unable to pass the 2016 draft budget and implement the necessary fiscal reforms.
