The National Center for Debt Management in Saudi Arabia has announced the completion of receiving investor requests for the local issuance for the month of August 2023 AD within the Kingdom of Saudi Arabia government sukuk program in Saudi riyals, as the total volume of subscription requests reached about 3.506 billion riyals, which are fully allocated.
The Central Bank stated in a statement, today, Tuesday, that the issuances were divided into two tranches, with the size of the first tranche amounting to 2.406 billion riyals, for sukuk maturing in 2031.
According to the statement, the value of the second tranche amounted to 1.100 billion riyals for sukuk maturing in 2033.
This issuance comes as a confirmation of the statement issued by the National Center for Debt Management in mid-February of this year, that it continues – in accordance with the approved annual borrowing plan – to consider the possibility of entering into additional financing operations proactively through available financing channels, whether locally or internationally, and according to market conditions, according to market conditions. To enhance the Kingdom’s presence in the debt markets, and manage principal dues for the coming years, taking into account the movement of markets and risk management in the government debt portfolio.