Saudi Arabia’s Ministry of Finance Closes October 2020 Domestic Sukuk Issuance Worth SAR 270 Million

Saudi Arabia’s Ministry of Finance (MoF) has announced the closure of the October 2020 issuance worth SAR 270 million under the Saudi Arabian Government SAR-denominated Sukuk programme, according to a statement released on the 25th of October 2020.

The Sukuk issuances were divided into two fixed profit rate tranches according to the MoF. The first tranche of the Sukuk issuance was sized at SAR 235 million over a seven-year tenure with a final profit rate of 1.73% and final yield of 1.87%, with a total tranche size of SAR 782.8 million, set to mature in July 2027.

The second tranche was sized at SAR 35 million, with a final profit rate of 2.89% and final yield of 2.25%, over a...