The National Debt Management Center (NDMC) has concluded its international trust certificate (Sukuk) issuance program, attracting $20 billion in investor orders—four times the intended offering of $5 billion (SAR 18.75 billion).
This landmark issuance involved three Sukuk tranches: $1.25 billion (SAR 4.68 billion) for a 3-year tranche maturing in 2027; $1.5 billion (SAR 5.63 billion) for a 6-year tranche maturing in 2030; and $2.25 billion (SAR 8.44 billion) for a 10-year tranche maturing in 2034.
The high bid-to-cover ratio reflects strong investor demand and underscores the international community’s confidence in Saudi Arabia’s economy and its future investment potential. The issuance attracted a diverse pool of global asset managers and financial institutions.
This issuance marks the Kingdom’s first-ever triple-tranche Sukuk offering. It aligns with NDMC’s strategy to diversify funding sources and broaden its investor base. This approach aims to efficiently and effectively meet the Kingdom’s financing needs through international debt capital markets. The strategy also ensures a continuous presence in the debt markets while managing upcoming debt repayments and government debt portfolio risks in a dynamic market environment.
Several leading local and international banks and financial institutions played a key role in the issuance’s success. Citigroup Global Markets, BNP Paribas, and Goldman Sachs Limited served as Joint Global Coordinators and Active Bookrunners. AlJazira Capital, J.P. Morgan Securities Plc, and Standard Chartered acted as Passive Bookrunners.
Source: www.spa.gov.sa