NO. 50


Financial and Banking News

Capital Markets

Tehran Municipality Launches Bond Issue To Fund Public Works

Tehran Municipality is planning to raise IR250bn ($104mn) from bond issues tohelp finance the cost of a local redevelopment project. The first tranche ofbonds, for IR75bn, will start on 23 September. Two other tranches will follow inSeptember 1995 and March 1996. The bonds will have a four-year maturity and willbe tradable on the Tehran Stock Exchange. The...