Saudi Arabia’s National Debt Management Center (NDMC) has successfully completed the issuance for February 2024 under the Saudi Arabian Government’s Sukuk Program, raising a total of SAR7.874 billion ($2.09 billion). To cater to investors with different investment horizons, the issuance has been divided into three tranches.
المركز الوطني لإدارة الدين يقفل طرح شهر فبراير 2024م ضمن برنامج صكوك المملكة المحلية بالريال السعودي بمبلغ إجمالي قدره (7.874) مليار ريال سعوديhttps://t.co/27oOKVaB60 pic.twitter.com/M423kZcbAW
— المركز الوطني لإدارة الدين – NDMC (@SaudiNDMC) February 13, 2024
The first tranche is valued at SAR1.180 billion and is set to mature in 2029. This tranche is specifically designed for investors seeking medium-term investment opportunities within the Kingdom’s sovereign Sukuk offerings.
The second tranche, totaling SAR2.720 billion, has a longer maturity date of 2034. It targets investors who desire a more extended investment horizon, striking a balance between medium and long-term financial commitments.
The third and largest tranche amounts to SAR3.973 billion, with a maturity date set for 2039. This tranche is tailored for investors inclined towards long-term investments, providing a substantial period before maturity. This aligns with the strategic financial planning and stability objectives of the Kingdom’s debt management strategy.
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