Fuel oil bond futures to go on Iranian Energy Exchange
Tehran, Iran, Apr. 20
By Mehdi Sepahvand - Trend:
CEO of Iran's Energy Exchange Ali Hosseini has said that the Energy Exchange is going to start offering fuel oil bond futures on April 21.
He said that the bonds will come with an annual interest of 25 percent, SHANA news agency reported April 20, adding that Amin Investment Bank is responsible for underwriting the bonds and Tadbirgaran Farda will act as the broker.
The official further said the base reserve asset for fuel oil bonds is 380 centistokes and the act of offering them in the exchange is aimed at financing Iran National Oil Company's projects.
Hosseini had earlier said that the Iran National Oil Company Board of Directors had agreed on offering 1 trillion rials (about $35 million) as parallel bond futures.
He added that the amount will be offered in two stages; with each stage half of the amount being offered.
Edited by CN
Mehdi Sepahvand is Trend Agency's journalist in Iran, follow him on Twitter: @mehdisepahvand
