Iran plans 1 bln euros in bonds in Dec

Iran plans to issue bonds worth 1 billion euros with an interest rate of 9 percent in December to help finance development of the South Pars natural gas field in the Gulf, a senior official was quoted on Friday as saying.

Iranian officials have previously announced plans to issue such bonds, but without giving a date.

"Based on the budget law, there will an issuance of 1 billion euros in bonds in December for the development of South Pars phases," Fars News Agency quoted Morteza Elahi, head of planning at the state Pars Oil and Gas Company, as saying.