Lebanon's dual-tranche Eurobond, placed earlier this week, was significantly oversubscribed with the $225 million tranche receiving bids four times the size of the issue.

The bigger $500 million bond, maturing in November 2018, was twice subscribed, a banking source said. The $225 million tranche matures in October 2022.

'The demand came from international fund managers, international banks and local banks. There is good appetite in the international market for the country's sovereign issues,' he said.

The international market was more interested in the 2018 issue, the source said, adding foreign buyers had accounted for 30 per cent of the demand for this tranche.

The yield on the 2018 Eurobond was 5.15 per cent, while the 2022 deal was placed to yield 6.1 per cent.

Bank of Beirut and Credit Suisse arranged the issue, the proceeds of which were earmarked for refinancing maturing debt.-Reuters