Over SR35 billion, NDMC completes 4th arrangement of an early ‎purchase in local market

National Debt Management Center announced the completion of an early purchase of part of the Kingdom’s existing and due debt instruments in the years 2024, 2025, and 2026, with a total value exceeding 35.7 billion riyals, as this is the largest early purchase transaction that the center has arranged to date, in addition to the issuance of new sukuk within the framework of the Kingdom’s local sukuk program in Saudi riyals, with a total value of about 35.9 billion riyals.

This initiative is also a continuation of the Center’s efforts to strengthen the local market, and to keep pace with developments that were positively reflected in the increase in the volume of trading in the secondary market during the last period, and to activate the Center’s role in managing government debt obligations and its future maturities, and to integrate efforts with initiatives To strengthen the public finances of the state in the medium and long term

The center divided the new sukuk issuances into four tranches, with a total value of about 35.9 billion riyals. The size of the first tranche was about 7.5 billion riyals for sukuk maturing in 2031 AD, and the second tranche amounted to about 14.5 billion riyals for sukuk maturing in 2032 AD. The third tranche amounted to about 10.8 billion riyals for sukuk maturing in 2033 AD, while the fourth tranche amounted to about 3.2 billion riyals for sukuk maturing in 2038 AD.

It is worth noting that HSBC Saudi Arabia, Al Ahly Capital, Al Rajhi Capital and AlJazira Capital were jointly appointed as principal issuance managers for this operation.