2nd Batch of Iran's Manfa’ah Sukuk Issued

The second batch of the new Islamic debt security Manfa’ah sukuk valued at 20 trillion rials ($416.6 million) was offered on over-the-counter exchange Iran Fara Bourse on Saturday.
The 42-month bonds bear an 18% interest and are priced at 1 million rials ($22.2) each. The government bonds are meant to finance buyback of bonds that have matured in the current fiscal year (March 21, 2017-18).
The buyback of Manfa’ah sukuk’s second batch will be backed by 21% and 59% of government revenues sourced from state-exclusive profits in National Iranian Gas Company and Central Bank of Iran, ILNA reported.
Minimum bond purchase is at 100 and the cap is unlimited for non-institutional buyers. The purchase window will close on Sunday.