4/1/2018
Riyadh, Kingdom of Saudi Arabia – April 1, 2018: The Ministry of Finance, represented by the Debt Management Office, today announced that it has received the approval from the Capital Market Authority to list and trade Saudi Riyal-denominated government debt instruments (bonds and Sukuk) on the Saudi Stock Exchange (Tadawul). The Debt Management Office commenced the registering of government debt instruments at the Securities Depository Center via the Tadawul platform in April 2017.
The listing will come into effect on Sunday, 8 April 2018 through a joint press conference to be held by the Ministry of Finance/Debt Management Office, the Capital Market Authority and Tadawul. 45 bonds and Sukuk issuances at a total value of SAR 204,385,000,000 will be listed, including Government Development Bonds (SAR 77,720,000,000), Floating Rate Notes (SAR 68,210,000,000) and Government Sukuk (SAR 58,455,000,000). The period of issuance varies for each of the government debt instruments. Maturities of the instruments to be listed vary between 5, 7 and 10 years.
Commenting on the decision, His Excellency Minister of Finance Mr. Mohammed Al-Jadaan said; “This step was preceded by the registration of debt instruments at the Securities Depository Center and arranging of the local Sukuk program, followed by further steps to develop and deepen the local and secondary debt markets. The listing of government debt instruments is an important step towards increasing transparency under a supervisory framework that provides disclosure to investors. It also contributes to ensuring the fair pricing of debt instruments listed on the secondary market through a strong interaction between supply and demand and linking market values with performance.”
"The listing of government debt instruments on Tadawul is a key pillar of the Saudi government's strategy to make the Kingdom a global investment powerhouse," said Fahad Al Saif, President of the Debt Management Office at the Ministry of Finance. "Government debt instruments will offer many advantages to an expanding investor base," he added.
The listing of public debt instruments on Tadawul is one of many initiatives undertaken to strengthen the role of the Ministry of Finance's Debt Management Office in line with the ambitious framework of Vision 2030.