While no new issuances of T-bills have happened on the market in 2017, more than IRR 100 tr of new Islamic T-bills are issued in the banking system and traded at high rates in the unofficial market, according to the head of debt management department of the Ministry of Economic Affairs and Finance
The underwriting of Gachsaran Petrochemical Co. Musharakah Sukuk (GACQ1) started this week. The papers will mature in 5 years with 18% coupon rate and quarterly payments.
The trades of Shiraz Municipality Musharakah papers started at Tehran Stock Exchange secondary market. The papers have 16% coupon rate with quarterly payments.
Behparvar Aria issued IRR 200 bn (USD 5.29 mn) Standard Parallel Salam papers on frozen chicken at Iran Mercantile Exchange (IME). Exercise prices of embedded put and call options of this paper are at a premium of 21% and 22% respectively.
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