Riyadh: The National Debt Management Center announces the closure of August 2023 issuance under the Saudi Arabian Government SAR-denominated Sukuk Program.
The total amount of all bids received was SAR 3.506Bn and the total amount allocated was set at SAR 3.506Bn (Three billion and five hundred and six million Saudi Riyals)
The Sukuk issuance was divided into two tranches as follows: the first tranche has a size of SAR 2.406 Bn (Two billion and four hundred and six million Saudi Riyals) maturing in (2031). The second tranche has a size of SAR 1.100 Bn (One billion and one hundred million Saudi Riyals) maturing in (2033).
This issuance confirms the NDMC's statement on the mid of February 2023, that NDMC will continue, in accordance with the approved Annual Borrowing Plan, to consider additional funding activities subject to market conditions and through available funding channels locally or internationally.
This is to ensure the Kingdom's continuous presence in debt markets and manage the debt repayments for the coming years while taking into account market movements and the government debt portfolio risk management.