VOL. XLV

No 22

3-June-2002

IRAN

Iran Mandates Commerzbank,BNP Paribas To Manage Eurobond Issue

On 27 May Iranmandated Commerzbank and BNP Paribas to lead managethe first bond issue in the country since the 1979 Islamic revolution. Eightother European banks including Credit Lyonnais,HSBC and Deutsche Bank submitted proposals to manage the issue last year (MEES, 10 September 2001). No USbanks were included, as they are barred from doing business in Iranby the Iran-Libya Sanctions Act (ILSA). The...