Saudi Arabia closes fifth domestic sukuk issuance

23/01/2018 Argaam

 

Saudi Arabia’s ministry of finance said it had received bids for its fifth domestic sukuk issuance under the Saudi Arabian government SAR-denominated sukuk program. The issuance size was set at SAR 5.85 billion.

 

The sukuk issuance was divided into three tranches: the first one valued at SAR 4.125 billion, maturing in 2023; the second tranche worth SAR 0.225 billion, maturing in 2025; and the third set at SAR 1.50 billion, maturing in 2028, the ministry added in a statement on Tuesday. 

 

The Kingdom had earlier issued SAR 4.78 billion ($1.27 bln) in domestic sukuk by reopening its monthly sale– originally launched in October– for the second time, Argaam reported.

 

Applications for the offer amounted to SAR 10.325 billion.

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