Monday, 17 June 2024

NDMC closes September offering of the Saudi Local Sukuk ‎Program at SR2.451 billion ‎

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The National Debt Management Center announced the completion of receiving investor applications for the local issuance for the month of September 2023, within the Kingdom’s government sukuk program in Saudi riyals, as the total volume of subscription applications reached approximately 8.759 billion riyals, and the total volume of allocation was set at 2.451 billion riyals.

According to the statement issued by the Centre, the issuances were divided into two tranches, the first tranche amounted to 1.026 billion riyals for sukuks maturing in 2030, and the second tranche amounted to 1.425 billion riyals for sukuks maturing in 2033.

This issuance comes as a confirmation of the statement issued by the National Debt Management Center in mid-February of this year, that it will continue – in accordance with the approved annual borrowing plan – to consider the possibility of entering into additional financing operations in a proactive manner through the financing channels available, whether locally or internationally, and according to market conditions to enhance… The Kingdom’s presence in the debt markets, and the management of principal receivables for the coming years, taking into account the movement of markets and risk management in the government debt portfolio.

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