By Elias Al Helou
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Saudi Arabia closes February sukuk issuance at $2.09 billion

Issuance was divided into three tranches
Saudi Arabia closes February sukuk issuance at $2.09 billion
Saudi Arabia's sukuk issuance caters to investors with different investment horizons

Saudi Arabia’s National Debt Management Center (NDMC) has successfully completed the issuance for February 2024 under the Saudi Arabian Government’s Sukuk Program, raising a total of SAR7.874 billion ($2.09 billion). To cater to investors with different investment horizons, the issuance has been divided into three tranches.

Read more: Sukuk issuance in Saudi Arabia: National debt management center raises SAR8.825 bn in January

The first tranche is valued at SAR1.180 billion and is set to mature in 2029. This tranche is specifically designed for investors seeking medium-term investment opportunities within the Kingdom’s sovereign Sukuk offerings.

The second tranche, totaling SAR2.720 billion, has a longer maturity date of 2034. It targets investors who desire a more extended investment horizon, striking a balance between medium and long-term financial commitments.

The third and largest tranche amounts to SAR3.973 billion, with a maturity date set for 2039. This tranche is tailored for investors inclined towards long-term investments, providing a substantial period before maturity. This aligns with the strategic financial planning and stability objectives of the Kingdom’s debt management strategy.

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