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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

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