Riyadh: The National Debt Management Center announces the closure of March 2023 issuance under the Saudi Arabian Government SAR-denominated Sukuk Program.
The total amount of all bids received was SAR 8.342 Bn and the total amount allocated was set at SAR 3.374 Bn (three billion and three hundred and seventy-four million Saudi riyals).
The Sukuk issuance was divided into two tranches as follows: the first tranche has a size of SAR 2.774 Bn (two billion and seven hundred and seventy-four million Saudi riyals) maturing in 2031, and the second tranche has a size of SAR 600 Mn (six hundred million Saudi riyals) maturing in 2037.
This issuance confirms the NDMC's statement in the mid of February of this year 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.