Saudi Arabia redeems $4.5bn in sukuk, extends debt maturities with new issuance

RIYADH: Saudi Arabia’s National Debt Management Center redeemed SR17.1 billion ($4.5 billion) of domestic sukuk before maturity and simultaneously issued SR17.2 billion in replacement sukuk across five tranches, extending the government’s debt maturity profile through 2041. The liability-management transaction covered sukuk originally due to mature between 2026 and 2030 and forms part of the Kingdom’s strategy to smooth future repayments while strengthening the domestic debt market, NDMC said in a statement.

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