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Saudi’s National Debt Management Center Closes SAR 2.9 Billion SAR-denominated Sukuk Issuance in Two Tranches  

Saudi’s National Debt Management Center Closes SAR 2.9 Billion SAR-denominated Sukuk Issuance in Two Tranches  

July 27, 2022

https://islamicmarkets.com/articles/saudi-s-national-debt-management-center-closes-sar-2-9-billion-sar-denominated
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By IM Insights

Saudi Arabia’s National Debt Management Center (NDMC) has announced the closure of an SAR 2.9 billion (USD 771 million) SAR-denominated Sukuk issuance on the 26th of July 2022, under the Saudi Arabian Government SAR-denominated Sukuk Programme.

Why it Matters?

The offering comprised two tranches; the first tranche had a size of SAR 480 million and the second tranche was sized at SAR 2.45 billion, with the two tranches set to mature in 2030 and 2034, respectively.

Details

In June 2022, the NDMC closed an SAR 5.44 billion (USD 1.5 billion) SAR-denominated Sukuk issuance, offered in two tranches under the Programme. Moody's Investors Service affirmed Saudi Arabia's credit rating at "A1" with a stable outlook in J...