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Lebanon Finance News

Dedicated to economic and business news on Lebanon, managed by the team of Lebanon Opportunities.

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Fransabank

BLC to sell Cypriot bank to Maurice Sehnaoui. Sehnaoui to exit stake in BLC. News from Lebanon

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A group of investors led by Maurice Sehnaoui is in talks with BLC Bank to buy its stake in the Cyprus-based USB Bank. Sehnaoui will in turn exit his stake in BLC Bank in favor to the Kassar family, which owns the majority of it.

BLC Bank owns….
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Fransabank to lend $150 million for energy. Bank will issue ‘green’ bonds . News from Lebanon

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Fransabank plans to launch a $150 million program to finance local projects in the renewable energy sector and that targets energy efficiency, said Adnan Kassar, the bank’s Chairman. “This is part of Fransabank’s Green Strategy,” he said.

The….
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EIB offers $303 million in credit lines to four banks. Funds target SMEs and mid-cap companies

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The European Investment Bank (EIB) has granted credit lines to four local banks with a combined value of 265 million euros ($303 million). The funds will be used to finance small and medium enterprises (SMEs) and mid-cap companies.

The benefi….
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BLC Bank shuts down investment subsidiary. To focus more on commercial banking

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BLC Bank, part of the Fransabank group, has shut down its investment subsidiary, BLC Invest.

The bank said in a statement that it is concentrating on commercial banking activities and for this reason, it has absorbed all of the assets and lia….
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Fransabank buys stake in Pinpay for $2.5 million. Bank to use the service

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Fransabank will invest $2.5 million in Pinpay, a local provider of mobile payment services, said a source close to the deal.

Under the deal, Fransabank will also be using Pinpay’s services for its customers. The bank will stop operating the….
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Four banks bidding for local HSBC branches. Fransabank, BLF, BLOM, and Audi have been prequalified

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Fransabank and BLF are among the banks seeking to acquire the local operations of HSBC, according to a source close to the deal.

BLOM Bank and Bank Audi are also competing for the deal. HSBC has prequalified four banks only.

The banks….
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IFC extends loan to Fransabank arm. To provide more environment friendly loans

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International Finance Corporation, member of the World Bank, signed a $7 million loan agreement with Fransabank subsidiary, the Lebanese Leasing Company (LLC).

The loan, supported by the Canadian Government, will be used in energy efficiency ….
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A $750 million Eurobond swap. To cover maturing debt in 2016

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The Ministry of Finance (MoF) has recently begun a swap operation of $750 million Eurobonds to mature on January 19, 2016. This measure is to cover a debt due for payment at the beginning of next year.

“The swap process is underway, but it’s ….
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A $750 million Eurobond swap. To cover maturing debt in 2016

eurobond-swap-deal.gif

The Ministry of Finance (MoF) has recently begun a swap operation of $750 million Eurobonds to mature on January 19, 2016. This measure is to cover a debt due for payment at the beginning of next year.

“The swap process is underway, but it’s ….
Article details

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