Lebanon will invite eight firms to bid to be its financial adviser as it studies all options on its sovereign debt, a source familiar with the matter said on Wednesday.
The invitation for bids does not "mean Lebanon decided on restructuring but it means Lebanon is studying all options and subsequent repercussions". Grappling with a major financial crisis, Lebanon has a $1.2 billion Eurobond due on March 9.
The source identified the firms as Moelis & Company, Rothschild & Co, Guggenheim Partners, Citibank, Lazard, JP Morgan, PJT Partners and Houlihan Lokey.