Lebanon's Blom bank and Citibank are lead managers for the issue, which comprises a $500 million of bonds maturing in 2016 and a $700 million of bonds maturing in 2022. The estimated yield on the 2016 Eurobond was 4.75 percent and the 2022 Eurobond was 6.2 percent, Lebanon remains one of the most highly indebted countries in the world, with a debt-to-GDP ratio of around 140 percent by the end of 2010. Public debt is expected to rise to $55 billion in 2011 from $51 billion projected in 2010 and analysts warn that if the government does not act to cut spending and boost revenues, it will reach $65 billion in the next three to five years.Lebanon refinanced $1 billion in Eurobonds in May with one issue of $650 million maturing in 2019 at a yield of 6 percent and second of $350 million maturing in 2022 at 6.475 percent. It also sold a $1.2 billion Eurobond in March last year which attracted bids about three times the size of the issue.