Iran to Offer $243 Million in Bonds to Fund Hydroelectric Plants

Dec. 28 (Bloomberg)-- Iran’s Energy Ministry plans to offer about $243 million of participation bonds denominated in Iranian rials to fund the completion of its hydroelectric plants, the Islamic Republic News Agency reported yesterday.

Tehran-based Bank Sepah will sell the bonds from Dec. 31, and interest on the debt will be paid on a quarterly basis, the official news agency reported, citing Mohammad-Reza Rezazadeh, managing director of Iran Water and Power Resources Development Co.

To contact the reporter on this story: Dana El Baltaji in Dubai at delbaltaji@bloomberg.net

To contact the editor responsible for this story: Claudia Maedler at cmaedler@bloomberg.net

Bloomberg reserves the right to edit or remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.