RIYADH: Saudi Arabia’s National Debt Management Center has completed the issuance of a $5.5 billion (SR20.63 billion) international sukuk under the Kingdom’s Global Trust Certificate Issuance Program.
The offering, the country’s first international sukuk based on an Ijarah structure, was issued in two tranches. The five-year sukuk maturing in 2030 raised $2.25 billion (SR8.44 billion), while the 10-year tranche maturing in 2035 secured $3.25 billion (SR12.19 billion), NDMC said in a statement.
Investor demand was strong, with the order book reaching about $19 billion — 3.5 times the issuance size — underscoring global confidence in the Kingdom’s economic fundamentals and investment outlook.
The NDMC noted that the issuance aligns with its strategy to diversify the investor base and meet Saudi Arabia’s financing requirements through international debt capital markets in an efficient and effective manner.
Global and regional banks played a key role in the transaction. Citigroup, HSBC, JP Morgan, and Standard Chartered acted as joint global coordinators and active book-runners.
