02 , Mar , 19
| Category :

New Plan to Expand Fleet, Financed through Issuance of Islamic Bonds

wagons1-rpseir

This notice is an amendment to the notice No. 518309. You can see the previous notice at the end of the text.

Reasons for amendment: Amendments have been made to the purchase plan of domestically manufactured high-sided wagons and the financial costs of Sukuk al-Ijara (Islamic bonds of lease).

Subject of disclosure: Sukuk al-Ijara bonds issuance – Group B

Date of approval by the Board of Directors: December 31, 2018

General description: Selling 367 high-sided wagons at IRR 1,000,000 to the financial intermediary, Aban Brokerage Co., with the lease to Rail Pardaz Seir Co. under the condition of future ownership.

Bond par value: IRR 1,000,000

Coupon rate: 16%

Coupon rate payout: The rental will be paid every quarter after the issuance of the bonds, with the original bonds being settled after 5 years.

Description of the application and the company’s plan regarding the bonds: Purchasing 367 high-sided wagons and expanding its fleet. According to the schedule, 230 freight wagons will be purchased from domestic manufacturers in the year 1398 (Mar 2019 – Mar 2020) and financial costs will be calculated and paid from the second half of the year 1397. In addition, the permit to issue the said bonds (certificates) is enclosed herewith.

See the Amendment to the Previous Notice on CODAL Website

See the Previous Version of the Notice on CODAL Website

Download the Related Documentation from CODAL Website