New Issue: Lebanon prices $1.1 billion tap of notes due 2023, 2027

By Christine Van Dusen

Atlanta, April 12 - Lebanon priced a $1.1 billion two-tranche tap of its notes due in 2023 and 2027 in a Regulation S deal, a market source said.

The transaction included a $600 million increase of the sovereign's 6% notes due Jan. 27, 2023, which priced at 98.882 to yield 6.15%, matching talk.

The issuer also printed a $500 million increase of its 6¾% notes due Nov. 29, 2027 at 100.451 to yield 6.7%. The yield matched talk.

Fransa Invest Bank, Natixis and Standard Chartered were the bookrunners for the Regulation S deal.

Issuer:	Lebanon
Amount:	$1.1 billion
Description:	Notes
Bookrunners:	Fransa Invest Bank, Natixis, Standard Chartered Bank
Trade date:	April 12
Distribution:	Regulation S
10-year notes
Amount:	$600 million
Maturity:	Jan. 27, 2023
Coupon:	6%
Price:	98.882
Yield:	6.15%
Price talk:	6.15%
Notes due 2027
Amount:	$500 million
Maturity:	Nov. 29, 2027
Coupon:	6¾%
Price:	100.451
Yield:	6.7%
Price talk:	6.7%

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