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

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.

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