Kian Debt Market Observer

Kian Debt Market Observer: Domestic automakers are looking to finance from capital market with a variety of instruments. Issuing about IRR 15,000 bn(USD 394 mn) of securities by the two large automakers is projected in the near future.

Since last November, Saipahas issued IRR 8,500 bn(USD 223 mn) Murabahaand IjarahSukukas well as listing one of its automobiles on Iran Mercantile Exchange to issue Standard Parallel Salam papers. Iran Khodroalso has obtained permission from Securities and Exchange Organization to issue IRR 7,000 bn(USD 184 mn) of MurabahahSukukand currently is negotiating with Iran Mercantile Exchange to list its cars.
The final settlement of SinaDarouCo. Mosharakahsukuk(DSIQ1) with total value of IRR 200 bn(USD 5.3 mn) was successfully completed.

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