Saudi Arabia raises 6.6 billion riyals from local sukuk issues for November

The National Center for Debt Management in Saudi Arabia announced the completion of receiving investor applications for November 2022 local issuance under the Kingdom of Saudi Arabian government’s sukuk program in Saudi riyals.

The center said in a statement that the total volume of subscription applications amounted to about 9.918 billion riyals, and the total volume of the allocation was set at 6.608 billion riyals.

According to the statement released by the center, the issue has been split in two tranches, the volume of the first amounted to 5.573 billion riyals for sukuk maturing in AD 2030, and the second tranche amounted to 1.035 billion riyals for sukuk maturing in AD 2034

This issuance is a confirmation of the statement released by the National Debt Management Center at the end of May quest’year, which continues – in compliance with the approved annual loan plan – to consider the possibility of initiating additional financing operations in proactively through available funding channels, both locally and internationally, e in based on market conditions Strengthen the Kingdom’s presence in the debt markets and manage the main credits for the coming years, taking into account the movement of the markets and risk management in the government debt portfolio.

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