Saudi Arabia completes portion of outstanding bonds valued at 3$9.14bln

The kingdom has also issued new sukuk under its local sukuk programme, the finance ministry said

  
Islamic finance. Image use for illustrative purpose.

Islamic finance. Image use for illustrative purpose.

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CAIRO  - Saudi Arabia announced on Monday the completion of an early redemption of a portion of outstanding bonds maturing in August, September, November and December of this year with a total value of 34.26 billion riyals ($9.14 billion).

The kingdom has also issued new sukuk under its local sukuk programme, the finance ministry said in a statement.

The new sukuk issuances comprise four tranches with a total value of 34.645 billion riyals.

The first tranche with an amount of SAR 8.97 billion matures in 2024, the second tranche with an amount of SAR 6.025 billion matures in 2028, the third tranche with an amount of SAR 6.5 billion matures in 2032, and the fourth tranche with an amount of SAR 13.15 billion matures in 2035.

HSBC Saudi Arabia and Samba Capital & Investment Management Company were appointed joint placement agents and dealer managers. ($1 = 3.7502 riyals)

(Reporting by Nayera Abdallah and Samar Hassan; Writing by Maha El Dahan; Editing by Sonya Hepinstall and Clarence Fernandez) ((Nayera.Abdallah@thomsonreuters.com;))

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