Saudi MoF closes April domestic sukuk issuance worth $3.1bn

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Iftar meals provided by a charity organization are distributed in Riyadh. Gulf states are tapping bond markets to help fund spending amid the pandemic. (Reuters)
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  • Gulf states tap bond markets to help fund budgets
  • Latest sukuk sale divided into two tranches

RIYADH: The Saudi Ministry of Finance鈥檚 National Debt Management Center (NDMC) has closed the April 2021 issuance under the government鈥檚 riyal-denominated sukuk program.
The issuance size was set at SR11.713 billion ($3.1 billion), NDMC said in a filing on Wednesday.
The sukuk issuances were divided into two tranches 鈥� the first at SR3.889 billion ($1 billion), matures in 2028 and the second at SR7.824 billion ($2 billion), matures in 2031.
Gulf states are tapping bond markets to raise fresh funds as traditional revenue sources such as crude oil sales come under pressure as a result of the coronavirus pandemic.

Topics: Sukuk bonds 抖阴短视频 debt