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Lebanon to review bids from financial and legal advisers

On Friday Lebanon will review proposals from firms bidding to be its financial and legal advisers.

The financial and legal advice revolve around options for Lebanon’s 2020 Euro-bond maturities and its overall Euro-bond portfolio. The Lebanese government aims to take a quick decision on who to appoint, a source stated on Thursday.

The firms bidding to be Lebanon’s legal adviser are Dechert, Cleary Gottlieb, and White and Case, though other firms that express interest before the Friday deadline will be considered, the source said.

Lebanon has issued requests for proposals to seven firms to provide it with financial advice.

The heavily indebted country is grappling with a crippling financial crisis and must decide what to do about its debt repayments, including a $1.2 billion Euro-bond due on March 9.