Saudi Arabia raises $1.48bln in local sukuk -statement

The first tranche of the sukuk issue has a size of $346mln

  
Saudi Minister of Finance Mohammed al-Jadaan speaks during a media conference with Saudi Arabia's central bank governor Ahmed al-Kholifey, in Riyadh, Saudi Arabia, February 23, 2020. Image used for illustrative purpose.

Saudi Minister of Finance Mohammed al-Jadaan speaks during a media conference with Saudi Arabia's central bank governor Ahmed al-Kholifey, in Riyadh, Saudi Arabia, February 23, 2020. Image used for illustrative purpose.

REUTERS/Ahmed Yosri

DUBAI - Saudi Arabia has raised 5.55 billion riyals in sukuk, or Islamic bonds, the Finance Ministry said in a statement on Thursday.

The first tranche of the sukuk issue has a size of 1.3 billion riyals, and a total tranche size of 2.523 billion riyals, maturing in 2027, the ministry said.

The second tranche has a size of 4.25 billion riyals, and a total tranche size of 8.238 billion riyals, maturing in 2035.

(Reporting by Aziz El Yaakoubi Editing by Chris Reese) ((aziz.elyaakoubi@thomsonreuters.com; +971552994086; Reuters Messaging: aziz.elyaakoubi.reuters.com@reuters.net))

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