CAIRO - Saudi Arabia on Thursday announced the completion of an early redemption of a portion of outstanding Islamic bonds maturing next year with a total value of 33 billion riyals ($8.80 billion).

The kingdom has also issued new Islamic bonds under its sukuk programme, the finance ministry said in a statement cited by the state news agency.

The new sukuk issuance comprises four tranches with a total value of 33.48 billion riyals.

($1 = 3.7509 riyals)

 

 

(Reporting by Lilian Wagdy Writing by Ahmad Elhamy Editing by Nick Macfie)