Saudi Arabia Concludes August 2021 Sukuk Programme Offering; Issues SAR 11.358 Billion in Three Tranches

Saudi Arabia’s National Debt Management Center (NDMC) has concluded its August 2021 issuance under the Government of Saudi Arabia’s SAR-denominated Sukuk Programme. The size of the issuance was set at SAR 11.358 billion, according to a statement issued by the NDMC on the 18th of August 2021.

Why it Matters?

Saudi Arabia had around SAR 854 billion in outstanding debt at the end of 2020, of which 59% was SAR-denominated and 41% was in foreign currency. According to the NDMC, the deficit funding requirement in 2021 is estimated to be SAR 141 billion as per the 2021 Saudi budget. To fund this deficit, Saudi Arabia’s Ministry of Finance plans to raise around SAR 124 billion in gross debt, and maintain the debt raising split between domest...