Lebanon to Request 7-day Grace Period for March Eurobonds
Lebanon plans to request a seven-day grace period to decide on restructuring a plan for it Eurobond debt maturing on March 9, media reports said on Thursday.
The government is weighing whether to pay or default on its $1.2 billion Eurobond debt, which matures next month, amid an economic crisis that has sparked months of unrest.
A government source who spoke on condition of anonymity said Lebanon is entitled to ask for grace period to give financial advisers more time to devise a restructuring plan for the debt.
Source: Naharnet
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