Saudi’s National Debt Management Center Closes SAR 5.44 Billion SAR-denominated Sukuk Issuance  

Saudi’s National Debt Management Center Closes SAR 5.44 Billion SAR-denominated Sukuk Issuance  

https://islamicmarkets.com/articles/saudi-s-national-debt-management-center-closes-sar-5-44-billion-sar-denominated
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Saudi Arabia’s National Debt Management Center (NDMC) has announced the closure of an SAR 5.44 billion (USD 1.5 billion) SAR-denominated Sukuk issuance, under the Saudi Arabian Government SAR-denominated Sukuk Programme on the 21st of June 2022.

Why it Matters?

The issuance was offered in two tranches sized at SAR 2.86 billion (USD 762 million) and SAR 2.58 billion (USD 688 million) and set to mature in 2030 and 2034, respectively.

Details

In May 2022, the NDMC closed an SAR 14.95 billion (USD 398 million) issuance, offered in three tranches under the Saudi Arabian Government SAR-denominated Sukuk Programme. In June 2022, Saudi Arabia's credit rating was affirmed at "A1" with a stable outlook by Moody's Investo...