Tawasul
Mubasher TV
Contact Us Advertising   العربية

Saudi Arabia may issue $5bn int’l sukuk in Q3

Saudi Arabia may issue $5bn int’l sukuk in Q3
The issuance is slated for the third quarter

Riyadh – Mubasher: Saudi Arabia is planning to issue from $3 billion to $5 billion worth of international sukuk in line with the kingdom’s endeavours to diversify resources, head of debt management office (DMO) told Reuters.

The issuance is slated for the third quarter of the current fiscal year, Fahad al-Saif added.

“At the end of quarter one, we have reached 55% local and 45% international. We believe that the ratios will be more skewed towards the local debt issues by the end of this year, Reuters reported, citing the top official as saying.

Around 40% of $31.5 billion bonds planned for 2019 was issued in the first quarter of the year, al-Saif revealed.

“Certain markets that we are paying attention to at the moment, do we have them as strict plans? Not yet. Are we discussing them as part of our medium-term debt strategy? Yes,” he noted.