Saudi Arabia closes the October offering of the local sukuk program with 8.5 billion riyals

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Yesterday, Tuesday, the Saudi National Center for Debt Management announced the completion of receiving investor requests for its local issuance for the month of October 2021, under the Saudi government’s sukuk program in Saudi riyals, where the issuance size was set at a total amount of 8.5 billion riyals.

According to the statement issued by the center, the issues were divided into two tranches, the first amounting to 3.905 billion riyals for sukuk maturing in 2029, while the second tranche amounted to 4.595 billion riyals for sukuk maturing in 2033.

This release comes within the annual borrowing plan for 2021, which the Center announced at the beginning of the fiscal year on its website www.ndmc.gov.sa, through which it reviews its local issuance schedule.

The National Center for Debt Management in Saudi Arabia had announced in mid-September the completion of receiving investor requests for its local issuance for the same month, under the government’s sukuk program denominated in Saudi riyals, where the issue size was set at a total amount of 6.675 billion riyals.

Footsie Russell said, Saudi Sukuk It will be added to its local currency emerging market government bond index, which is widely followed as of April 2022.

FTSE Russell stated that 42 bonds worth 306.1 billion Saudi riyals ($81.6 billion) are expected to be included in the index, and will constitute 2.75% of it on the basis of a weighted market value, according to “Reuters”.





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