The Saudi government has completed its November 2022 Saudi Riyal Sukuk issuance raising SR6.608bn (1.762bn).
The issuance is divided into two tranches. The first tranche has a size of SR5.573bn and matures in 2030. The second tranche has a size of SR1.035bn and matures in 2034.
The Ministry of Finance’s National Debt Management Centre (NDMC) announced the closure of the issuance and added that the total value of all the received was SR9.918bn.
The NDMC made two announcements regarding government debt in October.
The first was that it is arranging the first international partial earlier repurchase offer exercise for US-denominated notes maturing in 2023, 2025 and 2026.
The statement said the move is part of the kingdom’s efforts to proactively manage its refinancing risk and debt maturities of the debt portfolio.
The second statement was the completion of the process of receiving investor requests for the $5bn of sukuk (Islamic bonds) and bonds as part of Riyadh’s global trust certificate issuance programme and global medium-term note issuance programme.
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