July 01, 2020 20:10

5th Bond Auction Raises $331m

The results of the fifth bond auction shows that the Economy Ministry has slowly increased yields to attract buyers. Interest on bonds rose from 15% in the first round of auctions in May to as high as 17.5% in Tuesday’s bond auction

Islamic bonds worth 63 trillion rials ($331 million) were bought by lenders and non-bank financial institutions on Tuesday during the fifth bond auction held by the Central Bank of Iran.
CBI hosts the auctions every Tuesday for Islamic bonds issued by the government to lenders and non-bank financial institutions. Results are released by the CBI a day after the auction.
The initiative aims to help the government raise funds for budgetary needs as it struggles with rising deficits.
As per earlier an announcement, the government had offered two packages of Murabeha bonds with a collective value of 65.5 trillion rials but with three-year and five-year maturity dates.

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Central Bank of Iran (CBI) News