May 9, 2018 / 1:38 PM / in 2 months

Lebanon dollar-bonds hit multi-month lows on US pulling out of Iran deal

LONDON, May 9 (Reuters) - Lebanon’s dollar-denominated bonds fell as much as 2.745 cents to hit multi-month lows on Wednesday after U.S. President Donald Trump said Washington would pull out of the Iran nuclear deal and re-impose sanctions.

The $1 billion bond maturing in 2022 racked up the steepest losses, tumbling to 90.66 cents - its lowest level since November 2017, according to Thomson Reuters data.

Lebanese markets had already been under pressure after Sunday’s election result underscored Tehran’s growing regional clout.

Reporting by Karin Strohecker

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