Saudi Arabia closes SAR 3.5 bln domestic sukuk issuance

Saudi Arabia’s ministry of finance said it had received bids for its domestic sukuk issuance (07-2018) under the Saudi Arabian government SAR-denominated sukuk program. The issuance size was set at SAR 3.46 billion, the state-run SPA has reported.

The sukuk issuance was divided into three tranches: the first one valued at SAR 2.1 billion, maturing in 2023; the second tranche worth SAR 0.962 billion, maturing in 2025; and the third set at SAR 0.403 billion, maturing in 2028.

The Kingdom had earlier issued SAR 4.78 billion ($1.27 bln) in domestic sukuk by reopening its monthly sale– originally launched in October– for the second time, Argaam reported.