Riyadh – Mubasher: Saudi Arabia has issued SAR 20 billion worth of sovereign bonds that were allocated for a number of public institutions and local commercial banks, the Finance Ministry said in a report issued Tuesday.

Such bonds had a maturity that ranged between five years (with 1.92% yield), seven years (with 2.34% yield) and ten years (with 2.65% yield).

The ministry added sovereign bonds were issued in June at a value reaching SAR 15 billion, which were allocated for public institutions.

It also said that more sovereign bonds will be issued with varying maturities and values over the coming period.

Media reports said the Kingdom plans SAR 101.25 billion ($27 billion) bond issuances till the end of the year, pinpointing pressures triggered by the decline in global oil prices on the financial position of the world’s biggest oil exporter.