The issuance, backed by Apadana’s machinery and equipment, carries an annual nominal interest rate of 23%, with quarterly coupon payments and a four-year maturity.
According to the statement, PGPIC’s investment arm, Persian Gulf Investment Bank, purchased IRR 5 trillion of the issuance to support the development of the domestic petrochemical sector and contribute to the financing of Apadana’s methanol production project.
Tejarat Bank acted as guarantor for the offering, while Persian Gulf Investment Bank also served as lead underwriter and market maker, facilitating the placement and improving liquidity for the offering.
The funds are expected to accelerate the completion of the national-scale methanol project, a key component in Iran’s strategic petrochemical expansion plans.