Saudi Arabia’s NDMC Closes July 2021 Issuance for SAR-denominated Sukuk Valued at SAR 10.412 billion

On the 6th of July 2021, Saudi Arabia’s National Debt Management Center (NDMC) closed the SAR 10.412 billion (USD 2.78 billion), July 2021 issuance for the government’s SAR-denominated Sukuk.

Why it Matters?

Recently, Saudi Arabia has seen increased activity in Sukuk markets. According to Khalid Al-Bihlal, Head of S&P Global Ratings (S&P) in Saudi Arabia, an increase in bond issuance is expected to drive capital market growth, with the financing to help fund the SAR 12 trillion Vision 2030.

Details

The Sukuk were divided into two tranches: the first tranche, valued at SAR 6.462 billion, is to mature in 2031, whilst the second, valued at SAR 3.95 billion is to mature in 2035. Although the USD a...