Saudi MoF reopens 4th sukuk issue programme

Saudi MoF reopens 4th sukuk issue programme
The last issue was implemented in October at a value of SAR 10.325 billion.

Riyadh – Mubasher: The Saudi Ministry of Finance (MoF) on Sunday announced that it received total additional requests from investors regarding the Kingdom’s government sukuk programme.

The last issue was implemented in October at a value of SAR 10.325 billion.

The issue’s value amounted to SAR 4.775 billion with a coverage ratio of 216%.

The issued sukuk were distributed into three tranches of which the first tranche at a value of SAR 2.400 billion, maturing in 2022 and the second tranche’s value is SAR 1.800 billion with maturity date in 2024.

The third tranche reached SAR 575 billion with a maturity date in 2027.

The total value of October 2017 issue hit SAR 21.455 Billion which led to a completion for fourth issue for the first tranche at SAR 7.600 billion, the second at SAR 6.680 billion, and the third at SAR 7.175 billion.