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The government bonds are meant to finance buyback of bonds that matured in the current fiscal year (March 21, 2017-18).
The government bonds are meant to finance buyback of bonds that matured in the current fiscal year (March 21, 2017-18).
Sunday, March 18, 2018

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

Sunday, March 18, 2018

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.

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