The National Debt Management Center (NDMC) announced the completion of an early redemption of a portion of the Ministry of Finance's (the Issuer) outstanding sukuk maturing in 2026, 2027, 2028, 2029 and 2030, with a total value of approximately SAR 17.1 billion, in addition to the issuance of new sukuk with a total value of approximately SAR 17.2 billion.
This initiative continues NDMC's efforts to strengthen the domestic debt market and enables NDMC to exercise its role in managing government debt obligations and future maturities. It also aligns NDMC's efforts with other initiatives to enhance and optimize public finances in the medium and long term.
NDMC divided the new sukuk issuance into five tranches with a total value of approximately SAR 17.2 billion. The first tranche is approximately SAR 1.45 billion, maturing in 2031. The second tranche is approximately SAR 1.62 billion, maturing in 2033. The third tranche is approximately SAR 10.55 billion, maturing in 2036. The fourth tranche is approximately SAR 1.74 billion, maturing in 2039. The fifth tranche is approximately SAR 1.80 billion, maturing in 2041.
The Ministry of Finance (the Issuer) and NDMC have appointed HSBC Saudi Arabia, SNB Capital, Al Rajhi Capital, AlJazira Capital and Alinma Capital as Joint Lead Managers for this transaction.
*Numbers are rounded to the nearest decimal.