IKCO to Issue Securities Worth $153 Million

Iran’s largest auto producer Iran Khodro plans to issue 7 trillion rials ($153 million) worth of Murabaha debt securities on Tehran Stock Exchange’s bond market next Saturday for five trading days.
This is the largest volume of Islamic bonds the Iranian capital market has seen issued by one entity, the Persian daily Donya-e-Eqtesad reported.
"The four-year bonds will bear 18% interest and IKCO will use the money to purchase parts and raw materials required for its auto production," Mahsa Radfar, the head of Securities and Exchange Organization’s debt security issuance, said.