Saudi Arabia completes $9.27bln Eurobond issuance, including inaugural green tranche
RIYADH — The National Debt Management Center (NDMC) has successfully completed the issuance of an international euro-denominated bond under the Kingdom's Global Medium-Term Note Issuance Programme (GMTN), with a total value of €2.25 billion (SR8.86 billion).
The issuance, which attracted strong investor demand, saw an order book of approximately €10 billion, representing an oversubscription of four times the total issuance.
The bonds were issued in two tranches, including Saudi Arabia's inaugural green tranche, reflecting the Kingdom's commitment to sustainability and environmental initiatives.
The green tranche, valued at €1.5 billion (SR5.90 billion), was issued for a 7-year bond maturing in 2032. The second tranche amounted to €750 million (SR2.96 billion) for a 12-year bond maturing in 2037.
This marks the Kingdom's first government bond issuance featuring a green tranche, reinforcing its commitment to achieving sustainability objectives under Vision 2030 and reaching net-zero emissions. — SG
© Copyright 2022 The Saudi Gazette. All Rights Reserved. Provided by SyndiGate Media Inc. (Syndigate.info).
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