Tadawul witnesses SAR 527 bln sukuk, bond issuances in Q1 2023

30/04/2023 ِArgaam special

Tadawul witnesses SAR 527 bln sukuk, bond issuances in Q1 2023

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The total value of Saudi-listed sukuk and bond issuances registered a 0.3% quarter-on-quarter (QoQ) rise to about SAR 526.95 billion by the end of Q1 2023, the Saudi Exchange (Tadawul) said in its Q1 2023 Debt Market report.

 

By the end of the first quarter, total trading value surged 76% to nearly SAR 7.04 billion from SAR 4.01 billion in Q4 2022.

 

The total number of transactions rose 83% to 7,760 in the three-month period, compared to 4,236 deals in Q4 2022.

 

The total number of issuances of listed sukuk and bonds fell to 66 in Q1 2023 from 70 in Q4 2022.

 

The following is a table showing the performance of Saudi-listed sukuk and bond issuances in volume since Q1 2020:

 

Volume of Listed Sukuk and Bond Issuances

Period

Value

(SAR bln)

Change

(SAR bln)

QoQ Change

Q1 2020

358.00

--

--

Q2

392.20

+ 34.2

+10%

Q3

393.43

+ 1.2

+0.3%

Q4

387.84

(5.6)

(1%)

Q1 2021

399.92

+ 12.1

+3%

Q2

423.25

+ 23.3

+6%

Q3

451.70

+ 28.5

+7%

Q4

461.37

+ 9.7

+2%

Q1 2022

488.00

+ 26.6

+6%

Q2

512.36

 + 24.4

+5%

Q3

511.25

(1.1)

(0.2%)

Q4

525.32

+ 14.1

+3%

Q1 2023

526.95

+ 1.6

+0.3%

 

 

The value of listed government sukuk and bonds at the end of Q1 2023 represented about 95.9%, or nearly SAR 505.6 billion, of the total issuance of sukuk and bonds.

 

Meanwhile, sukuk and bonds of listed companies accounted for 4.1% or SAR 21.4 billion, in Q1 2023, as shown in the table below:

 

Volume of Listed Sukuk and Bond Issuances by Type

Period

Listed Government Sukuk and Bonds

Sukuk and Bonds of Listed Companies

Value

(SAR bln)

Percentage-to-total

Value

(SAR bln)

Percentage-to-total

Q1 2020

334.9

93.5 %

23.1

  6.5%

Q2

369.6

94.2 %

22.6

  5.8%

Q3

370.8

94.2 %

22.6

  5.8%

Q4

365.7

94.3 %

22.1

  5.7%

Q1 2021

377.8

94.5 %

22.1

  5.5%

Q2

401.3

94.8 %

22.0

  5.2%

Q3

429.7

95.1 %

22.0

  4.9%

Q4

439.8

95.3 %

21.6

  4.7%

Q1 2022

466.4

95.6 %

21.6

  4.4%

Q2

496.8

97.0 %

15.6

  3.0%

Q3

499.6

97.7 %

11.7

  2.3%

Q4

503.9

95.9 %

21.4

  4.1%

Q1 2023

505.6

95.9 %

21.4

  4.1%

 

Saudis owned debt instruments worth about SAR 520.7 billion, representing 98.8% of the total debt instruments, as the following table shows:

 

Ownership by Nationality

Nationality

Value

(SAR bln)

Percentage-to-total

Saudis

520.67

98.8 %

Foreigners

4.72

0.9 %

GCC

1.56

0.3 %

Total

526.95

100 %

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