Azerbaijan, Baku, March 3 /Trend F.Milad/
Iran started offering 5 trillion rials (some $410 million) in bonds for financing its South Pars gas field development plans on March 3 at the Mellat bank branches nationwide for 5 working days, Shana news agency reported.
The 4-year paper will offer a 20 percent yield per annum, the report added.
On November 26, 2011, $500 million in bonds was offered with a 17 percent yield, but there was little uptake.
Five billion dollars in bonds will be issued in the current Iranian calendar year (to end March 19) to speed up the implementation of South Pars gas field projects.
Iran will also issue $15 billion in sukuk (Islamic Sharia-based) bonds in the current year to be invested in the domestic oil industry.
The South Pars gas field is shared by Iran and Qatar. The Iranian share, which is divided into 29 phases, has about 14 trillion cubic meters of gas, or about eight percent of the total world reserves, and more than 18 billion barrels of liquefied natural gas resources.
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