The National Debt Management Center (NDMC) announced the completion of receiving investors ' requests for the first international issuance during the year 2024 for bonds under the Kingdom's Global Medium-Term Note Issuance Programme (GMTN).
The total order book reached around USD 30 billion, which equals an oversubscription of 2.5 times. The Kingdom issued a total of USD 12 billion (equivalent to SAR 45 billion) via a triple tranche bond offering. The value of the first tranche is at USD 3.25 billion (equivalent to SAR 12.19 billion) for a 6-year bond maturing in 2030. The second tranche totaled USD 4 billion (equivalent to SAR 15 billion) for a 10-year bond maturing in 2034, while the third tranche totaled USD 4.75 billion (equivalent to SAR 17.81 billion) for a 30-year bond maturing in 2054.
This transaction is part of NDMC's strategy to diversify the investors' 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 of the Kingdom's issuances, confirming the investors' confidence in the strength of the Kingdom's economy and its investment opportunities future.
*Numbers are rounded to the nearest decimal.