The National Debt Management Center (NDMC) in Saudi Arabia announced the closure of June 2025 issuance under the Saudi Arabian Government SAR-denominated Sukuk Program. The total amount allocated was set at SAR2.355 billion ($627.8 million).
The sukuk issuance was divided into five tranches as follows: the first tranche has a size of SAR25 million maturing in 2027; the second tranche has a size of SAR1.175 billion maturing in 2029; the third tranche has a size of SAR500 million maturing in 2032; the fourth tranche has a size of SAR5 million maturing in 2036; and the fifth tranche has a size of SAR650 million maturing in 2039.
Read more: Saudi Arabia endorses 2025 annual borrowing plan with $37 billion funding target
Supporting Vision 2030 initiatives
The National Debt Management Center is a cornerstone of Saudi Arabia’s fiscal strategy, playing a vital role in ensuring the sustainability and resilience of the Kingdom’s public finances. Established in late 2015, the NDMC’s mandate is to secure Saudi Arabia’s financing needs at the best possible cost and risk profile, both in the short and long term, while maintaining access to domestic and international debt markets at fair pricing.
Moreover, as an independent government agency affiliated with the Ministry of Finance, the NDMC is responsible for managing the government’s direct and contingent liabilities, developing public debt strategies, and arranging the issuance, refinancing, and restructuring of sovereign debt instruments. Its work is central to supporting Saudi Arabia’s ambitious Vision 2030 transformation, which aims to diversify the economy and reduce reliance on oil revenues.
Additionally, in 2025, the NDMC completed a major sukuk restructuring and new issuance. This totaled over SR120 billion ($32 billion). It was part of a broader effort to deepen the local debt market and strengthen fiscal sustainability. This included early redemption of sukuk maturing between 2025 and 2029 and the issuance of new sukuk with maturities extending to 2040. The NDMC also oversees the annual borrowing plan, which outlines timelines for new debt issuances and integrates innovative debt instruments to optimize costs and manage risk.
