Riyadh, November 21, 2023, The National Debt Management Center (NDMC) has announced the successful closure of the November 2023 issuance under the Saudi Arabian Government SAR-denominated Sukuk Program. The total amount allocated for this issuance was SAR 2.667 billion.
The Sukuk issuance was divided into two tranches, with the first tranche having a size of SAR 1.999 billion, maturing in 2031, and the second tranche having a size of SAR 668 million, maturing in 2035.
This strategic move aligns with the NDMC's earlier statement in February 2023, emphasizing its commitment to considering additional funding activities in line with the approved Annual Borrowing Plan. The goal is to navigate market conditions and utilize available funding channels, both locally and internationally. This approach ensures the Kingdom's sustained presence in debt markets, effectively manages debt repayments in the coming years, and incorporates prudent risk management practices for the government's debt portfolio.
