Iran plans its first bond issue since 1979

IRAN - Iran hopes to next week issue its first international bond since the 1979 Islamic revolution, according to Mohsen Noorbakhsh, the governor of Iran's central bank.

In an interview with the Financial Times, Mr Noorbakhsh said his country was looking to raise at least €500m in a five-year bond aimed at European and Gulf state investors.

He said the purpose of the bonds was to set a benchmark in the market. "Iran's government is not in need of money. We have a budget surplus and the purpose