Debt of Tehran municipality, main obstacle in issuing bonds.
- Tose’e Etemad Mobin issued Ijarah Sukuk with value of IRR 5,000 bn, 16% coupon rate, 4 years maturity and semiannually payments. Based on trades on offering date, YTM of these papers is 17%.
- New Islamic treasury bill was issued with value of IRR 27,868 bn. Based on trades on offering date, YTM of these papers is 29.4%.
- Head of city council announced: Tehran municipality has applied to issue IRR 20,000 bn of Musharakah Sukuk through banking system, from which IRR 7,000 bn was accepted. Due to high debt of the municipality to banks, they have refused to cooperate so far.
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