The National Debt Management Center announces the closure of April 2024 issuance under the Saudi Arabian Government SAR-denominated Sukuk Program. The Total Amount Allocated was set at SAR 7.396 Bn (seven billion and three hundred and ninety six million Saudi Riyals)
The Sukuk issuance was divided into three tranches as follows:
- The first tranche has a size of SAR 2.235Bn (two billion and two hundred and thirty-five million Saudi Riyals) maturing in (2029).
- The second tranche has a size of SAR 1.648Bn (one billion and six hundred and forty-eight million Saudi Riyals) maturing in (2031).
- The third tranche has a size of SAR 3.513Bn (three billion and five hundred and thirteen million Saudi Riyals) maturing in (2036).
The Kingdom also plans to expand funding activities during the year 2024, reaching up to a total of SR 138 Bn from what has been stated previously in the Annual Borrowing Plan, with a portion of this amount already covered up to date. This step comes with the aim of capitalizing on market opportunities to achieve proactive financing for the coming year and utilizing it to bolster the state's general reserves or seize additional opportunities to enhance transformative spending during this year, thereby accelerating strategic projects and programs of Saudi Vision 2030.