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.
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