Saudi Arabia finance ministry announces closure of August issuance of sukuk program

The first tranche of the sukuk, or Islamic bonds, has a size of $26.6mln

  
Islamic finance background with calculator and rosary on the table. Image used for illustrative purpose.

Islamic finance background with calculator and rosary on the table. Image used for illustrative purpose.

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LONDON: Saudi Arabia’s finance ministry announced on Saturday the closure of the August 2020 issuance of the government’s sukuk progam.

The first tranche of the sukuk, or Islamic bonds, has a size of 100 million riyals ($26.6 million) and a total tranche size of 6.125 billion riyals, maturing in 2028, the ministry said.

 

The second tranche of the sukuk has a size of 400 million riyals and a total tranche size of 13.515 billion riyals, maturing in 2035.

The issuance size of the sukuk program in August was set at 500 million riyals, the ministry said.

In June, Saudi Arabia raised 8.495 billion riyals in sukuk.

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