Riyadh – Mubasher: The subscription requests of investors for the second issue of Saudi's domestic sukuk programme has been closed, with the total amount exceeding SAR 38 billion, the Ministry of Finance (MoF) said.

The subscription’s coverage ratio reached 295%, the MoF’s statement added, noting that the issue’s volume was specified at a value of SAR 13.

The sukuk issues were divided into three tranches, of which the first tranche’s value stands at SAR 2.1 billion, to mature in 2022.

The second tranche’s value amounted to SAR 7.7 billion, due in 2024, and the third tranche is SAR 3.2 billion, due in 2027.