The National Debt Management Center (NDMC) announced the completion of investor request intake for the first international issuance of 2026 for bonds under the Kingdom's Global Medium-Term Note Issuance Programme (GMTN).
The total order book reached around USD 31 billion, which equals an oversubscription of 2.7 times. The Kingdom issued a total of USD 11.5 billion (equivalent to SAR 43.13 billion) via a quadruple tranche bond offering. The first tranche is valued at USD 2.5 billion (equivalent to SAR 9.38 billion) for a 3-year bond maturing in 2029. The second tranche totaled USD 2.75 billion (equivalent to SAR 10.31 billion) for a 5-year bond maturing in 2031. The third tranche totaled USD 2.75 billion (equivalent to SAR 10.31 billion) for a 10-year bond maturing in 2036, while the fourth tranche totaled USD 3.5 billion (equivalent to SAR 13.13 billion) for a 30-year bond maturing in 2056.
This transaction was conducted in accordance with the recently announced Annual Borrowing Plan, which aims to diversify the investor base and meet the Kingdom's financing needs from international debt capital markets efficiently and effectively. The bid-to-cover ratio reflects the strong demand for the Kingdom's issuances, underscoring investor confidence in the strength of the Kingdom's economy and its future investment opportunities.
*Numbers are rounded to the nearest decimal.