Iran Gov’t Sells $400m in Bonds

The government sold 53 trillion rials ($400 million) worth of Manfa’at Sukuk bonds on Wednesday via Iran Fara Bourse, over-the-counter market for trading securities, to meet budgetary needs. 
Bonds were part of a bigger 100-trillion-rial ($780 million) scheme undertaken on the request of the Ministry of Economy, according to IFB’s website. 
Manfa’at bonds mature in 42 months with the yield set at 18% to be paid every six months.