Saudi Arabia Issues SAR 34.645 Billion Local Sukuk; Redeems Outstanding Bonds Worth SAR 34.26 Billion

According to a media report, Saudi Arabia has released a statement announcing new Sukuk issuances worth SAR 34.645 billion under its Local Sukuk programme, which is an initiative of the National Debt Management Center to unify local issuances.

The first tranche is set to mature in 2024 and is valued at SAR 8.970 billion, while the second tranche worth SAR 6.025 billion will mature in 2028. The third and fourth tranches are valued at SAR 6.5 billion and SAR 13.150 billion and are set to mature in 2032 and 2035, respectively.

HSBC Saudi Arabia and Samba Capital & Investment Management Company were appointed as joint placement agents and dealer managers for the issuances. The Sukuk...