Saudi Arabia reopens October domestic sukuk issue with $1.78 bln riyal sale

Saudi Arabia has issued 6.68 billion riyals ($1.78 billion) of Islamic bonds by reopening a domestic sukuk issue that it originally made in October, the finance ministry said on Tuesday.

The bond tap brings the October sukuk issue to a total of 16.68 billion riyals. The tap, split into three tranches, attracted 19.8 billion riyals of demand, the ministry said.

The first tranche, amounting to 1.05 billion riyals, matures in 2022. The second tranche, due in 2024, is 3.53 billion riyals while the third tranche, due in 2027, is 2.1 billion riyals.