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Saudi Arabia announces closure of third Sukuk offering

Published: Updated:

The Ministry of Finance announced on Tuesday that it had closed the third domestic Sukuk issuance under the Saudi government SAR-denominated Sukuk Program.

In the a statement released to the Saudi Press Agency, the finance minister said he subscription applications for these Sukuk exceeded SAR 24 Billion whilst the issuance size was set at SAR 7 Billion, resulting in 350 percent coverage ratio.

The Sukuk issuances were divided into three tranches as follows:

- The first tranche has a size of SAR 2.4 billion and matures in 2022G.

- The second tranche has a size of SAR 3.9 billion and matures in 2024G.

- The third tranche has a size of SAR 0.7 billion and matures in 2027G.