NDMC completes USD 3.25B international sukuk issuance arrangements

The National Debt Management Center (NDMC) completed arrangements for an international issuance of US dollar-denominated Saudi government sukuk under the Saudi Government’s International Sukuk Issuance Program, structured on an Ijarah basis.

This marks the Saudi government’s second international sukuk issuance structured on an Ijarah structure.

According to NDMC, KSA Ijarah Sukuk Ltd. issued sukuk worth USD 3.25 billion (equivalent to SAR 12.19 billion), divided into two tranches.

The first tranche amounted to USD 1.25 billion (SAR 4.69 billion) in five-year sukuk maturing in 2031, while the second tranche amounted to USD 2 billion (SAR 7.5 billion) in 10-year sukuk maturing in 2036.

The Center noted that the overall amount of subscription orders was about USD 16.5 billion, which is 5x the total amount of issue.