Riyadh, April 24, 2024, The National Debt Management Center has recently announced the successful closure of the April 2024 issuance under the Saudi Arabian Government SAR-denominated Sukuk Program. The total allocation for this issuance amounted to SAR 7.396 billion.
This Sukuk issuance was structured into three tranches, each with its respective size and maturity date:
1. The first tranche amounted to SAR 2.235 billion and is set to mature in 2029.
2. The second tranche totaled SAR 1.648 billion and has a maturity date of 2031.
3. The third tranche amounted to SAR 3.513 billion, maturing in 2036.
In addition to this successful issuance, the Kingdom has outlined plans to expand its funding activities throughout 2024. These plans aim to reach a total of SAR 138 billion, surpassing the previously stated figures in the Annual Borrowing Plan. It's worth noting that a portion of this amount has already been covered as of the current date.
This strategic step is aligned with the Kingdom's objectives to capitalize on market opportunities actively. It serves the purpose of securing proactive financing for the upcoming year, which will be instrumental in bolstering the state's general reserves. Furthermore, this initiative aims to seize additional opportunities that may arise to enhance transformative spending during the year. These efforts are crucial in accelerating the implementation of strategic projects and programs outlined in Saudi Vision 2030.
