IRAN 

Bank Mellat Schedules Second South Pars Bonds Offering Beginning 3 March

Bank Mellat announced on 28 February that it would undertake a second offering of rial-denominated South Pars development bonds for six working days beginning 3 March. The four-year bonds, whose amount has yet to be specified, provide a tax-free annual rate of 20% to investors. This rate was recently increased by the Central Bank of Iran (MEES, 6 February). The petroleum ministry’s Shana website on 28...