Saudi Arabia Closes August 2020 Sukuk Issuance Worth SAR 500 Million: Ministry of Finance

Saudi Arabia’s Ministry of Finance (MoF) announced the closure of the August 2020 issuance worth SAR 500 million under the Saudi Arabian Government SAR-denominated Sukuk programme, in a statement released on the 22nd of August 2020.

The Sukuk issuances are divided into two tranches. According to the MoF, the first tranche of the Sukuk is SAR 100 million (USD 26.6 million) with a final profit rate of 2.29%, with a total tranche size at SAR 6.125 billion, set to mature in July 2028.

The second tranche has a size of SAR 400 million, with a final profit rate of 3.1% with a total tranche size of SAR 13.55 billion, maturing in July 2035.

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