Saudi Arabia raises $2.26bln in sukuk: Finance ministry

The sukuk issuances were divided into three tranches.

  
Image used for illustrative purpose. Magnifying glass and banknote Saudi Arabia.

Image used for illustrative purpose. Magnifying glass and banknote Saudi Arabia.

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RIYADH — Saudi Arabia’s Ministry of Finance has closed the book for its June 2020 sukuk (Islamic bonds) issuance program, raising SR8.495 billion ($2.27 billion), the ministry said in a statement carried by Saudi Press Agency reported on Sunday.

The sukuk issuances were divided into three tranches.

The first tranche of the sukuk issue is SR2.494 billion, and the total tranche size is SR5.017 billion, maturing in 2027, a ministry statement said.

The second tranche has a size of SR3.670 billion, and a total tranche size of SR13.966 billion, maturing in 2030.

The third tranche has a size of SR2.331 billion, and a total tranche size of SR10.569 billion, maturing in 2035.

 
 

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