KSA Raises Over SAR 15 Billion Through Sukuk Issuance

The Kingdom of Saudi Arabia’s (KSA) Finance Ministry has announced that it has concluded the March 2020 SAR-denominated Sukuk issuance on the 27th of March 2020.

The Sukuk, valued at SAR 15.6 billion is divided into three tranches, each tranche maturing in five, ten and thirty years, respectively.

KSA’s Economic Society Member, Abdullah Ahmad Al-Maghlouth stated that the issuance of Government Sukuk reflected many positive elements such as the robustness of KSA’s credit rating, the strength of the Saudi economy, the Finance Ministry’s ability to deal with the requirements of asset and liability management, together with strong foreign-exchange reserves in USD...