The National Center for Debt Management announced the completion of receiving investor requests for the local issuance for the month of March 2023 within the Saudi Government Sukuk program in Saudi riyals, as the total volume of subscription requests reached about 8.342 billion riyals, and the total volume of allocation was determined at an amount of 3.374 billion riyals.
According to the statement issued by the center, the issuances were divided into two tranches, the volume of the first amounted to 2.774 billion riyals for sukuk maturing in 2031, and the second tranche amounted to 600 million riyals for sukuk maturing in 2037.
This issuance comes as a confirmation of the statement issued by the National Center for Debt Management in mid-February of this year, that it continues – in accordance with the approved annual borrowing plan – to consider the possibility of entering into additional financing operations proactively through available financing channels, whether locally or internationally, and according to market conditions; To enhance the Kingdom's presence in the debt markets, and manage principal dues for the coming years, taking into account the movement of markets and risk management in the government debt portfolio.
Okaz (Riyadh)