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Saudi Arabia’s National Debt Management Center closes $5bn sukuk issuance

Saudi Arabia’s National Debt Management Center closes $5bn sukuk issuance
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Riyadh – Mubasher: Saudi Arabia’s National Debt Management Center (NDMC) has closed a $5 billion (SAR 18.75 billion) international trust certificate (sukuk) issuance programme.

The sukuk issuance, divided into three tranches, received total orders of $20 billion, according to the Saudi Press Agency (SPA).

The first tranche, valued at $1.25 billion (SAR 4.68 billion), will mature in 2027.

The second tranche, worth $1.5 billion (SAR 5.63 billion), is scheduled to mature in 2030.

The third tranche amounts to $2.25 billion (SAR 8.44 billion) and will mature in 2034.

This issuance marks Saudi Arabia’s first triple-tranche sukuk offering, aligning with NDMC's strategy to diversify funding sources and expand its investor base.

This approach aims to meet the kingdom's financing needs through international debt capital markets, ensuring a continuous market presence while managing debt repayments and portfolio risks.

Leading local and international banks played key roles, with Citigroup Global Markets, BNP Paribas, and Goldman Sachs Limited serving as joint global coordinators and active bookrunners.

AlJazira Capital, J.P. Morgan Securities Plc, and Standard Chartered acted as passive bookrunners.

Earlier in May, the NDMC closed SAR 3.23 billion sukuk issuance divided into two tranches.