Lebanon is planning to issue $1.3bn in eurobonds in September, according to press reports.

Parliament has approved the issuance of $2.5bn in bonds in 2015.

This follows a record $2.2bn eurobond in February. An $800m tranche of 10-year debt had a yield of 6.2 per cent, while the remaining $1.4bn in 15-year securities had a yield of 6.65 per cent.

Two eurobonds matured in June and August, increasing the amount of debt Beirut can issue this year, according to Bloomberg.

Beirut may also be planning an early exchange offer on $750m of eurobonds maturing in January 2016, according to Reuters.

Lebanon is rated B2 with a negative outlook by the US’ Moody’s Investor’s Service, B- by US-based Standard & Poor’s, and B with a negative outlook by the US’ Fitch Ratings.

It has the most public debt of any Arab country, with government debt estimated at 126 per cent of GDP in 2015 and 2016, according to Moody’s. It expects fiscal deficits to average 8 per cent of GDP over the period.

The country is currently being rocked by protests over rubbish collection, as well as wider issues such as political paralysis and ineffectiveness, and poor public services.