RIYADH: Saudi Arabia’s National Debt Management Center raised SR5.31 billion ($1.42 billion) through its riyal-denominated sukuk issuance for August, marking a 5.8 percent increase from July.
The Kingdom had raised SR5.02 billion in July, while issuances stood at SR2.35 billion in June and SR4.08 billion in May.
Sukuk are Shariah-compliant instruments that grant investors partial ownership in underlying assets, offering a popular alternative to conventional bonds.
The August issuance was split into four tranches: SR755 million maturing in 2029, SR465 million in 2032, SR1.12 billion in 2036, and SR2.97 billion in 2039.
The NDMC, in a statement, said the latest offering reflects ongoing efforts to diversify funding sources and strengthen the domestic debt market.
