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Saudi Arabia raises 8.8 bln riyals in treasury sukuk

Saudi Arabia has raised 8.834 billion riyals in sukuk, or Islamic bonds, in September. (File photo: AFP)

Saudi Arabia has raised 8.834 billion riyals in sukuk, or Islamic bonds, the Ministry of Finance said on Tuesday.

“The Ministry of Finance announces that it has closed the September 2019 issuance under the Saudi Arabian Government SAR-denominated Sukuk Program,” it added in the statement.

The sukuk issuances were divided into three tranches, the ministry said, adding that the first tranche has a size of 1.40 billion riyals, and a total tranche size of 4.648 billion riyals, maturing in 2028.

The second tranche has a size of 1.185 billion riyal, and a total tranche size of 11.012 billion riyal, maturing in 2031.

The third tranche has a size of 6.249 billion riyal, and a total tranche size of 15.496 billion riyal, maturing in 2049.

In August, the Finance Ministry said that it had raised 2.261 billion riyal in sukuk, also in three tranches.

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Last Update: Tuesday, 17 September 2019 KSA 11:08 - GMT 08:08
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