Subscription of Sukuk al-Ijara (Islamic bonds of lease) of Rail Pardaz Seir (HRAIL021) – March 3, 2019 – 09:46
Dear Iran Fara Bourse brokers, please be notified that: Pursuant to the notice No. 97/N/10249 dated February 27, 2019 of Iran Fara Bourse Co., starting today, March 3, 2019, until Tuesday, March 5, 2019, Sukuk al-Ijara (Islamic bonds) of Rail Pardaz Seir Co. (PJS) are subscribed under the ticker symbol HRAIL021, with a quantity of 1,000,000 bonds, for the purpose of cash purchase of 367 high-sided freight wagons by the financial intermediary and leasing it to the originator under the condition of (future) ownership by the originator, with a par value of IRR 1,000,000. In this regard, the following points must be taken into serious consideration:
The volume limitation (maximum number of bonds in each order) is IRR 100,000 bonds.
The said bonds are registered and exchangeable in Fara Bourse exchange market and have an annual coupon rate of 16%, paid each quarter after the issuance of the bonds, for a period of 60 months. The underwriter and market maker for ticker symbol HRAIL021 is Tamadon Investment Bank.
All bonds subscription charges and fees shall be paid by the originator of the bonds. Therefore, brokers must not charge any amounts from the clients.
Settlement and transaction of the said bonds will be made T+1 (one trading day following the trade date).
After the end of subscription, secondary exchanges of the said bonds will begin in the new financial instruments market of Iran Fara Bourse.
For more information, you can refer to the said notice on the official website of Iran Fara Bourse Co.
Iran Fara Bourse Operations Manager
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