Saudi Arabia’s National Debt Management Center in Early Repurchase of Sukuk

Saudi Arabia has completed the repurchase of a portion of outstanding bonds and Sukuk due in August, September, October, November and December of 2022 earlier than planned, with the total value amounting to over SAR 33 billion (USD 8.79 billion).

Why it Matters?

With the objective of unifying its domestic issuances under the Sukuk Issuance Programme in SAR, this transaction is a National Debt Management Center (NDMC) initiative.

Details

According to the NDMC, this is the second stage of the initiative, which began in 2020 and will be followed by others. Represented by the Ministry of Finance (MoF), Saudi Arabia also said that there would be fresh issuance of Sukuk in SAR under the Sukuk Issuance Programme. The n...