The Saudi Ministry of Finance announces that it has received significant demand for its first domestic Sukuk issuance under the Saudi Arabian Government SAR-denominated Sukuk Program.
The subscription applications for these Sukuk exceeded SAR 51 billion (USD 13.6 billion) while the issuance size was set at SAR 17 billion (USD 4.5 billion), resulting in 300% coverage ratio, the Saudi Press Agency (SPA) reported.
The Sukuk issuances were divided into three tranches. The first tranche has a size of SAR 12 billion (USD 3.2 billion) and matures in 2022. The second tranche has a size of SAR 2.9 billion (USD 613 million) and matures in 2024. The third tranche has a size of SAR 2.1 billion (USD 560 million) and matures in 2027, it added.
This significant interest to invest in the Saudi Arabian Government SAR-denominated Sukuk is a testament to the strength and resilience of the Saudi economy as well as the Saudi capital markets, it noted.
