Iran to offer euro-denominated bonds

IRAN - For the first time since the 1979 Islamic revolution, Iran has signed a deal with two foreign banks to market Iranian revenue bonds on the international market.

France's BNP Paribas and Germany's Commerzbank signed a contract with Iran's Central Bank last week. The deal directs the European banks to offer 300-500 million euros with three to five year maturity debt.

Iran's news agency says the Central Bank is issuing the debt to raise funds for investment in the oil and petrochemical se