Saudi Arabia completes third international offering of $3.25 billion Sukuk, bonds

RIYADH: The National Debt Management Center (NDMC) completed receiving investors’ requests of the third international offering during 2021 for Sukuk and bonds under the kingdom’s Global Trust Certificate Issuance programme and the Global Medium-term Note Issuance programme, Arab News reported.

The total order book reached over $11 billion, which oversubscribed 3.5 times, the NDMC said in a statement .The Kingdom issued a total of SR12.19 billion ($3.25 billion) divided into two tranches.

The value of the first tranche is at SR7.5 billion ($2 billion) for a 9.5-year Sukuk maturing in 2031. The second tranche totaled SR4.69 billion ($1.25 billion) for a 30-year bond maturing in 2051.

This comes as part of NDMC’s strategy to diversify the investor base and meet the kingdom’s financing needs from international debt capital markets efficiently and effectively.