LONDON, July 1 (Reuters) – Dollar-denominated bonds issued by Lebanon’s government rose on Monday after a Qatari official said on Sunday the Gulf state had bought some of the country’s bonds.
The 2037 issue jumped more than 3 cents to trade at 79.24 cents – its highest since early May, according to Refinitiv data.
The bond buying had been part of a $500 million investment in the Lebanese economy, a Qatari government official said on Sunday. Lebanese Finance Minister Ali Hassan Khalil said the move showed Qatar’s commitment to Lebanon’s financial stability.
“The purchase by Qatar is not very large, but supportive nonetheless,” said Giyas Gokkent at J.P.Morgan. (Reporting By Tom Arnold, editing by Karin Strohecker)