Iran’s Currency and Gold Exchange Center confirmed on Oct. 10 that the
bond issuance would begin on Oct. 14. The proceeds will be used to fund the
development of Nakhl Asmari Petrochemical’s polybutylene adipate
terephthalate (PBAT) production project — valued at approximately 6.5
trillion rials (€50 million).
The issuance marks a key step toward mobilizing international and
foreign-currency financing for Iranian petrochemical ventures. PGIB is acting
as the financial advisor, while Bank Melli Iran will serve as guarantor, agent,
and underwriter for the offering. Once operational, the PBAT project is
expected to generate an estimated US$200 million in annual foreign exchange
revenue.
The bond subscription, hosted by the Currency and Gold Exchange
Center, will remain open for one week from Oct. 14 to Oct. 21. The minimum
subscription size is set at 1,000 bonds, equivalent to €1 million, with no
upper purchase limit.
The four-year bonds carry a fixed annual interest rate of 6%, with
payments made annually in euros to the designated accounts of bondholders
through the issuing agent.
Officials said the issuance represents a pioneering move toward
diversifying financing instruments in Iran’s petrochemical sector and enhancing
the flow of foreign-currency capital into domestic industrial projects.