Saudi Arabia issues $71.99 million in local sukuk

Saudi Arabia issued 270 million riyals ($71.99 million) in local sukuk. (File photo: AFP)

Saudi Arabia issued 270 million riyals ($71.99 million) in local sukuk, or Islamic bonds, the Kingdom’s National Debt Management Center announced, the Saudi Press Agency (SPA) reported on Sunday.

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SPA said the National Debt Management Center had closed the October 2020 issuance under the Saudi Arabian Government riyal-denominated Sukuk Program at 270 million riyals.

The Islamic bond issuances were divided into two tranches.

The first tranche has a size of 235 million riyals and a total tranche size of SAR 782.8 million, maturing in 2027.

The second tranche has a size of SAR 35 million, and a total tranche size of SAR 7,650 billion, maturing in 2032.

Also on Sunday, Saudi Arabia issued a new twenty-riyal banknote to mark the Kingdom’s presidency of the G20 Summit this year, according to an announcement by the Saudi Arabian Monetary Authority (SAMA).

SAMA said that the twenty Saudi Riyal commemorative banknote will go into circulation by Wednesday, October 25, together with the other current banknotes as an official legal banknote.

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Last Update: Sunday, 25 October 2020 KSA 11:53 - GMT 08:53
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