Saudi Arabia’s Ministry of Finance has priced $7.5bn (SR28.12bn) of debt as part of its global medium-term note programme.

It is the fourth issuance of the programme and consists of two tranches. One is $4bn for 10 years, maturing in 2029; the other is $3.5bn for 31 years, maturing in 2050.

The government said in a statement that the issuance received significant interest from international investors, with the orderbook peaking at $27.5bn. The issuance is expected to settle in mid-January.