NDMC closes August offering with 3.5 billion riyals

Saudi National Debt Management Center announced the completion of receiving investor requests for the local issuance for the month of August 2023 AD within the Kingdom of Saudi Arabia’s government sukuk program in Saudi riyals, as the total volume of subscription requests reached about 3.506 billion riyals, and the total volume of allocation was determined at an amount of 3.506 billion Real.

According to the statement issued by the center, the issuances were divided into two tranches, the volume of the first amounted to 2.406 billion riyals) for sukuk maturing in 2031 AD, and the second tranche amounted to 1.100 billion riyals for sukuk maturing in 2033 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 the 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 the principal dues for the coming years, taking into account the movement of the markets and risk management in the government debt portfolio.