The Ministry of Finance announces that it has completed a tap issuance of the (10-2018) issuance under the Saudi Arabian Government SAR-denominated Sukuk Program. The tap issuance size was set at SAR 1.285 Billion. This brings the total amount of the (10-2018) issuance to SAR 6.535 Billion.
The Sukuk issued were divided into three tranches as follows:
- The first tranche has a size of SAR 2.730 billion and matures in 2023.
The National Debt Management Center announced the completion of arranging local Sukuk issuances under the Saudi Arabian Government SAR-denominated Sukuk Program for the debt principal repayments as per the financing needs for the year 2022, with a funding amount of approximately SAR 43 bn. NDMC stated that it may, in accordance with the Annual Borrowing Plan, continue to consider additional funding activities subject to market conditions and through available funding channels locally or internationally through debt markets and government alternative financing. This is to ensure Kingdom's continuous presence in debt markets and manage the debt repayments for the coming years, in addition to, facilitating the financing of capital expenditures and infrastructure projects which will contribute to promote economic growth while taking into account market movements and the debt portfolio risk management.
- The second tranche has a size of SAR 1.435 billion and matures in 2025.- The third tranche has a size of SAR 2.370 billion and matures in 2028.