The National Debt Management Center announces the closure of June 2026 issuance under the Saudi Arabian Government SAR-denominated Sukuk Program. The Total Amount Allocated was set at SAR 10.576Bn (Ten billion five hundred and seventy-six million Saudi Riyals)
The total local debt that was issued in 2016 until the end of September by the Ministry of Finance amounted to SAR 97 billion, in addition to the USD 10 billion (SAR 37.5 billion) international syndicated loan arranged in May 2016, and USD 17.5 billion (SAR 65.6 billion) international bond issued in October 2016, bringing the total local and international debt issued in 2016 to SAR 200.1 billion. Accordingly, the total outstanding debt stood at SAR 342.4 billion as of the date of this announcement. Moreover, the Debt Management Office at the Ministry of finance emphasized that the Ministry will resume the local debt issuances in 2017.
The Sukuk issuance was divided into six tranches as follows:
- The first tranche has a size of SAR 4.697 Bn (Four billion six hundred and ninety-seven million Saudi Riyals) maturing in (2029)
The second tranche has a size of SAR 2.121 Bn (Two billion one hundred and twenty-one million Saudi Riyals) maturing in (2031)
The Debt Management Office is also working on the development of the primary debt market, diversification of debt instruments through issuing local and international Sharia'ah compliant Sukuk securities, and the development of the secondary debt market through registering and listing the local debt instruments on the Saudi Stock Exchange (Tadawul).
This is part of the Debt management Office's objective to update and develop the Kingdom's overall public debt strategy