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| 23 October, 2017

Saudi sells $2.67bln of domestic sukuk, issue size rises

Image for illustrative purpose.
"SUKUK" word on box over blur and sunlight background.

Image for illustrative purpose. "SUKUK" word on box over blur and sunlight background.

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Applications to buy totalled almost 32 billion riyals

RIYADH - Saudi Arabia's government sold 10 billion riyals ($2.67 billion) worth of Islamic bonds in its fourth monthly offer of domestic sukuk, with the issuance size rising from the last offer, the Ministry of Finance said on Monday.

The government sold 4.15 billion riyals of five-year sukuk, 1.35 billion riyals of seven-year and 4.50 billion riyals of 10-year. Applications to buy totalled almost 32 billion riyals.

In last month's sale, the government issued 7 billion riyals of sukuk and received bids of 24 billion riyals. It sold 2.4 billion riyals of five-year, 3.9 billion riyals of seven-year and 0.7 billion riyals of 10-year.

(Reporting by Andrew Torchia; editing by Peter Graff) ((andrew.torchia@thomsonreuters.com; +9715 6681 7277; Reuters Messaging: andrew.torchia.thomsonreuters.com@reuters.net))