Riyadh – Mubasher: The Saudi National Debt Management Center said it received subscriptions from investors for its eighth international issuance under the Saudi Arabia's Global Medium-Term Note Programme.

The issue was more than 4 times oversubscribed, with total orders amounting to more than $22 billion. The kingdom will issue a total of $5 billion (equivalent to SAR 18.75 billion) on two tranches, according to a press release on Wednesday.

The first tranche is valued at $2.75 billion (equivalent to SAR 10.3 billion) for 12-year notes maturing in 2033, while the second one totals $2.25 billion (equivalent to SAR 8.4 billion) for 40-year notes maturing in 2061.​

On Tuesday, Reuters reported that Saudi Arabia started marketing a dual-tranche benchmark US dollar-denominated bond sale with tenors of 12 and 40 years.