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Date: Monday, February 13, 2012
NIOC Sells 1.400 Trillion of SP’s Bonds

Rising South Pars gas field development bonds’ interest rate to 20 percent led to selling of 14 thousand billion rials of the bonds during the last week offering.

Speaking to Shana, the National Iranian Oil Company (NIOC) managing director Ahmad Qalebani said: Last week offering was the second batch of offering South Pars gas field development plan’s bonds in current Iranian year which faced with widespread welcome and were sold in two working days totally.
The four year period bonds could be bought back before maturity based on 18 percent interest rate in the first year and 19.5 percent as of the second year. On account interest rate of the bonds is 20 percent, bonds are tax free and could be redeemed at all branches of the agent banks.
Declaring maximum interest rate of the bonds 27 percent, Qalebani said earlier with regard to the bonds’ attractive interest rates, it is expected offering to be faced with widespread welcome.

According to the official, Central Bank of Iran (CBI) has also agreed to increase interest rate of the first batch of bonds from 17 to 20 percent.
NIOC’s managing director continued that following ratification of new money package by the Central Bank of Iran and Council of Money and Credit, NIOC was the first company started issuance of participation bonds based on 20 percent interest rate.


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