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NIOC Selling $154m in Manfa’at Bonds

NIOC Selling $154m in Manfa’at Bonds NIOC Selling $154m in Manfa’at Bonds

CEO of the National Iranian Oil Company said Tuesday the state company will offer 20 trillion rials ($154 million) worth of Manfa’at bonds in two stages on March 13 and 16 on Iran Fara Bourse (junior stock market for securities and other financial instruments in Tehran). 
The announcement, published on the NIOC website, said the money will be used to pay for maintenance of oil production capacity and raise production.  
"Bonds will be offered as part of NIOC plans to sell a total of 30 trillion rials Manfa’at bonds by the end of current fiscal (March 20).  NIOC offered 10 trillion rials ($77 million) worth of bonds on IFB during the month to February 20. 

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