VOL. XLV

No 28

15-July-2002

IRAN

Iran Eurobond Oversubscribed As EconomicConfidence Outweighs Political Uncertainty

Iranissued its first bond since the 1979 Islamic revolution on 10 July despite abumpy road to market which had seen Moodys withdraw the countrys B2 gradesovereign rating as it bowed to USgovernment pressure. While some had expected the US Governments inclusion of Iranin its axis of evil and its continued sanctions against the country to hamperits attempts to tap the capital markets,...