According to Ibena, Bonds are worth 100 trillion Rials ($588 million) and mature in 2023 at 15% payable every six months. The bonds are to be sold on a gradual basis in regular weekly auctions.
Plans to open a primary interbank market for bond auctions are aimed at helping the government raise funds for budgetary needs as it struggles with high and rising deficits.
Earlier the CBI had announced that it plans to hold auctions at the start of each trading week and on a regular basis.
