Saudi Arabia announces closure of third Sukuk offering

A Saudi money changer displays Saudi Riyal banknotes at a currency exchange shop in Riyadh, Saudi Arabia July 27, 2017. (Reuters)

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.

Last Update: Wednesday, 20 May 2020 KSA 09:49 - GMT 06:49