Saudi Finance Ministry closes book on July sukuk issuance

The sukuk are divided into two tranches of 5 and 7 years

  
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.

Getty Images

RIYADH — Saudi Arabia’s Ministry of Finance has closed the book to investors on its July 2020 riyal-dominated sukuk program, seeking to raise SR1 billion, the ministry said in a tweet.

The sukuk are divided into two tranches of 5 and 7 years.

The first tranche has a size of SR452.2 million and a total tranche size of SR7.001 billion and matures in 2025.

The second tranche has a size of SR547.8 million, and a total tranche size of SR547.8 million and matures in 2027.

 

© Copyright 2020 The Saudi Gazette. All Rights Reserved. Provided by SyndiGate Media Inc. (Syndigate.info).

Disclaimer: The content of this article is syndicated or provided to this website from an external third party provider. We are not responsible for, and do not control, such external websites, entities, applications or media publishers. The body of the text is provided on an “as is” and “as available” basis and has not been edited in any way. Neither we nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this article. Read our full disclaimer policy here.

More From Markets