October 7, 2019 / 10:50 AM / 9 days ago

Lebanon dollar bonds rise on hopes of UAE financial support

LONDON, Oct 7 (Reuters) - Lebanon’s dollar-denominated sovereign bonds rose on Monday on hopes the government might secure a cash injection from the United Arab Emirates.

Longer-dated issues climbed the most, with the 2037 issue up 0.6 cents to 65.96 cents in the dollar, while the 2032 issue edged up 0.5 cents to 65.57 cents in the dollar, according to Tradeweb data.

Lebanon’s Prime Minister Saad al-Hariri is visiting UAE in an effort to drum up financial support and investment for the country’s ailing economy. (Reporting by Tom Arnold, editing by Karin Strohecker)

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