Latest news with #NationalDebtManagementCentre
Zawya
23-04-2025
- Business
- Zawya
Saudi Arabia raises $987mln from sukuk issuance
Saudi Arabia has raised SAR 3.71 billion ($987.6 million) in its latest round of sukuk issuance, up by 40% from the previous offering. The National Debt Management Centre (NDMC) said on Tuesday that it has just completed the Saudi riyal-denominated Islamic bonds issuance for April 2025, which was split into four tranches. The first tranche, amounting to SAR 1.315 billion, will mature in 2029, while the second, amounting to SAR 80 million, is set to mature in 2032. The third tranche (SAR 765 million) will mature in 2036, and the fourth, valued at SAR 1.55 billion, will mature in 2039. In March, Saudi allocated SAR 2.64 billion for the Islamic bonds. (Writing by Cleofe Maceda: editing by Seban Scaria)
Zawya
20-03-2025
- Business
- Zawya
Saudi's sukuk issuance hits $2.5bln in Q1 2025
Saudi Arabia has closed on its riyal-denominated sukuk issuance for March 2025, with a total allocation of SAR 2.64 billion ($703.2 million). This month's local offering brings the total sukuk allocation this year so far to SAR 9.435 billion. Last February's issuance stood at SAR 3.071 billion, while January's offering was pegged at SAR 3.724 billion. The latest offering under the Saudi Arabian Government SAR-denominated Sukuk Program was split into four tranches, with the first, amounting to SAR 364 million, set to mature in 2027. The second tranche, which has a size of SAR 316 million, matures in 2029, while the third (SAR 1.46 billion) and fourth (SAR 500 million) will mature in 2032 and 2039, respectively, according to the National Debt Management Centre (NMDC). The sukuk market is forecast to stay upbeat this year, with global issuances likely to be between $190 billion and $200 billion, according to S&P. The ratings agency noted a 29% jump in foreign-currency issuance to $72.7 billion as of December 2024, thanks largely to issuers from GCC countries led by Saudi Arabia, as well as Malaysia and Indonesia. (Writing by Cleofe Maceda; editing by Seban Scaria)
