Saudi Arabia closes $1.7 billion Sukuk programme

RIYADH: The National Debt Management Center (NDMC) has closed the September 2021 issuance under the Saudi Arabian government’s riyal-denominated Sukuk programme, Arab News reported.

The size was set at SR6.675 billion ($1.7 billion), NDMC said in a statement.

The issues were divided into three tranches: a SR3.170 billion tranche, which matures in 2029, a SR2.855 billion tranche, which matures in 2033 and a SR650 million, which matures in 2036.

Saudi Arabia had approximately SR854 billion debt outstanding by the year-end of 2020, of which 59 per cent are riyal-denominated and 41 per cent in foreign currency, NDMC said on its website.

As per the 2021 Saudi budget, the deficit funding requirement in 2021 is estimated to be SR141 billion, it said.

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