KIAN DEBT MARKET OBSERVER

Bank interest rates are to be brought down to as low as 15% according to the head of the coordination council of state-owned banks.

Rail Transportation Company is to issue IRR 768 bn (USD 20.2 mn)* Istisna Sukuk for purchasing 300 freight wagons. The papers mature in 4 years with 16% coupon rate and quarterly payments. Papers will be guaranteed by the Railways of the Islamic Republic of Iran (RAI).

Securities and Exchange Organization (SEO) authorized the issuance of IRR 7000 bn(USD 184.8 mn)*MurabahaSukukby Iran Khodro(IKCO). These 18% coupon rate bonds have a maturity of 4 years with quarterly payments.

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