Middle East Economic Survey

VOL. LIII

No 11

15-March-2010

IRAN

Iran Launches Eurobonds To Finance South Pars Development

Iran started issuing Eurobonds on 10 March, with Bank Mellat offering the initial 250mn tranche of what is expected to total 1bn worth of paper. The bonds, to help finance development of phases 15-18 of the South Pars gas field, are to be offered over a 120-day period. The General Director of Foreign Affairs at Bank Mellat, Saeed Ghafari, said the 1bn bonds would be issued in...