Economy, Business And Markets

Gov’t Sells $225m Worth of Bonds in 1 Week

Gov’t Sells $225m Worth  of Bonds in  1 WeekGov’t Sells $225m Worth  of Bonds in  1 Week

The government sold a batch of bonds worth 10 trillion rials ($225 million) last week, the Ministry of Economic Affairs and Finance announced. The debts were sold in an open auction at the over-the-counter exchange Iran Fara Bourse on Jan. 16, 17 and 20. The four-year bonds offer a 17% yield-to-maturity, are tax-free and pay dividends every six months. Meant for financing development projects, they are guaranteed by the Economy Ministry and their payback is financed by the Plan and Budget Organization. According to Chairman of Securities and Exchange Organization Shapour Mohammadi, government bond issuance is expected to reach 345 trillion rials ($7.75 billion) by the end of the current fiscal year (March 21), IRNA reported.

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