(Corrects due dates of 2014 bonds)
By Davide Scigliuzzo
LONDON, April 2 (IFR) - The Lebanese Republic has launched a liability management operation to refinance upcoming bond repayments and lengthen the maturity profile of its debt, according to a bourse filing.
The sovereign, rated B1/B-/B, is offering to exchange its outstanding US$881.6m 9% note due May 2014 for a new Eurobond due April 2020 and/or an increase of its existing 6.6% November 2026 paper.
It also plans to issue new bonds in order to refinance its US$676.9m 7.375% note due in April 2014.
The May 2014s will be exchanged at a price of 100.442.
Reporting by Davide Scigliuzzo; Editing by Alex Chambers