Saudi Arabia re-opens fifth domestic sukuk issuance with $1.3 bln

Saudi Arabia’s Ministry of Finance said it had reopened for the second time its fifth domestic sukuk issued in January under the government’s SAR-denominated sukuk program.

The issuance size is set at SAR 4.85 billion ($1.29 billion), bringing the total sukuk issuance to SAR 17.92 billion.

The ministry divided the sukuk issuance into three tranches: the first one valued at SAR 2.6 billion, maturing in 2023; the second tranche worth SAR 1.85 billion, maturing in 2025; and the third set at SAR 400 million, maturing in 2028.

The Kingdom’s fifth sukuk issuance was closed in January with an issuance size set at SAR 5.85 billion. It was reopened a month later at SAR 7.22 billion.