National Debt Management Center closes July offering at ‎SR2.63 billion ‎

Saudi National Center for Debt Management announced the completion of receiving investor requests for the local issuance for the month of July 2023 AD within the Kingdom of Saudi Arabia government sukuk program in riyals, as the total volume of subscription requests reached about 2.63 billion riyals, and the total volume of allocation was determined at an amount of 2.63 billion riyals.

According to the statement issued by the center, the issuances were divided into two tranches, the volume of the first amounted to 2.4 billion riyals for sukuk maturing in 2033 AD, and the second tranche amounted to 225 million riyals for sukuk maturing in 2037 AD.

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, in order to enhance the Kingdom’s presence in the debt markets, and manage principal dues for the years next, taking into account the market movement and risk management in the government debt portfolio.