Bank Mellat to handle Iran gas field bonds

An Iranian state bank has been picked as lead manager for a planned bond issue to help finance the development of the country's largest natural gas field, the Oil Ministry website SHANA said on Tuesday.

Mohammad Hassan Mousavizadeh, a senior adviser of Iran's Pars Oil and Gas Co, said Bank Mellat would handle the issue of the foreign currency-denominated bonds but that it could also cooperate with foreign banks.

The bonds for the development of the offshore South Pars field would be offered to Iranians living abroad as well as to foreign investors, SHANA added, without giving details on size and timing of the issue.