The Ministry of Finance announces that it has received significant demand for its first domestic Sukuk issuance under the Saudi Arabian Government SAR-denominated Sukuk Program. The subscription applications for these Sukuk exceeded SAR 51 Billion whilst the issuance size was set at SAR 17 Billion, resulting in 300% coverage ratio.
These Sukuk issuances were divided into three tranches as follows:
- the first tranche has a size of SAR 12 Billion and matures in 2022G.
- the second tranche has a size of SAR 2.9 Billion and matures in 2024G.
- the third tranche has a size of SAR 2.1 Billion and matures in 2027G.
The Ministry noted that this significant interest to invest in the Saudi Arabian Government SAR-denominated Sukuk is a testament to the strength and resilience of the Saudi economy as well as the Saudi capital markets. It also demonstrates the important role the Debt Management Office at the Ministry of Finance plays in fulfilling the objectives of KSA Vision 2030.