In a bid to expand its activities, Mahan Air plans to offer 5 trillion Rials of debt bonds, in what is considered to be the airline’s biggest attempt to provide its financial needs in the capital market.
Speaking during a meeting, Managing-Director of Mahan Air Hamid Arabnejad discussed ways for meeting financial needs for the airline’s new projects with Dr. Mohammad-Reza Mohseni, the CEO of Central Securities Depository of Iran.
One of the main missions of the capital market this year is to facilitate providing financial needs of the firms, Dr. Mohseni said, adding that Minister of Economic Affairs and Finance Ali Tayyebnia has commissioned the Securities and Exchange Organization (SEO) to bolster the role of the capital market in meeting the money required by the firms.
He said that in accordance with an order issued by Dr. Mohammad Fatanat, the managing director of SEO, a special working group was set up to explore ways for the removal of obstacles on the way of issuing Sukuk (Islamic bonds) in the capital market.
Meanwhile, the managing director of Mahan Air said that in order to provide the money required for buying two Airbus planes, the airline offered 2.1 trillion rials of debt bonds in the capital market that received unprecedented welcome by the investors who bought all the bonds on the first offering day.
Arabnejad said that in a bid to expand its activities, Mahan Air plans to offer 5 trillion rials of debt bonds in the capital market in the near future.
Mahan Air issued some 291.5 billion rials of debt bonds for the first time in March 2010.
Release Date: 6/6/2016