The total value of bonds being issued to finance development of the South Pars gas field has been increased by 27% due to an anticipation of high public demand.

Mr Ahmad Qalebani MD of National Iranian Oil Company said that Iran will start offering IRR 11.5 trillion in bonds on February 4th 2012, a 27% premium on the IRR 9 trillion previously planned.

The 4 year paper will be issued through nationwide branches of Tejarat and Mellat banks and will offer 20% yield per annum. On November 26th 2011, USD 500 million in bonds was offered with 17% yield but there was little uptake.

The NIOC head had previously said that USD 5 billion in bonds will be issued in the current Iranian calendar year (to end March 20th 2012) to speed up the implementation of South Pars gas field projects

Mr Rostam Qasemi oil minister of Iran said that Iran will also issue USD 15 billion in sukuk bonds in the current year to be invested in the domestic oil industry.

(Sourced from tehrantimes.com)