Lebanon to review bids for financial, legal adviser roles on Friday-source

Lebanon on Friday will review proposals from firms bidding to be its financial and legal advisers about options for its 2020 Eurobond maturities and its overall Eurobond portfolio, a source familiar with the matter said on Thursday. The Lebanese government aims to take a quick decision on who to appoint, the source said.

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 Eurobond due on March 9.