Riyadh, February 13, 2024, The National Debt Management Center (NDMC) has officially closed the issuance for February 2024 under the Saudi Arabian Government's SAR-denominated Sukuk Program. The total allocated amount for this issuance reached SAR 7.874 billion (Seven billion and eight hundred and forty-seven million Saudi Riyals).
The Sukuk issuance was structured into three tranches with varying maturity dates and sizes:
1. The first tranche amounted to SAR 1.180 billion (One billion and one hundred and eighty million Saudi Riyals) and matures in 2029.
2. The second tranche had a size of SAR 2.720 billion (Two billion and seven hundred and twenty million Saudi Riyals) with a maturity date set for 2034.
3. The third tranche totaled SAR 3.973 billion (Three billion and nine hundred and seventy-three million Saudi Riyals) and is scheduled to mature in 2039.
This Sukuk issuance reflects the government's ongoing efforts in managing its debt and utilizing Islamic financial instruments to meet its financing needs. The structured tranches allow for flexibility in catering to different maturity preferences among investors. The NDMC plays a crucial role in ensuring effective debt management strategies and promoting transparency in the financial markets.
