The Ministry of Finance announced that the total subscription demand for the domestic government sukuk it issued reached 51 billion Saudi riyals, confirming strong investor interest in the offering, while the issuance size had been set at a total of 17 billion Saudi riyals, resulting in a coverage ratio of 300%.

The strong demand for domestic sukuk underscores investors’ confidence in Saudi Arabia’s issuances, the strength of the Saudi economy’s fundamentals, and the resilience of the Kingdom’s capital markets. It also reflects the role played by the Public Debt Management Office at the Ministry of Finance in achieving the Kingdom’s Vision 2030.

It is worth noting that the issuances were divided into three tranches as follows: The first tranche amounts to 12 billion Saudi riyals for sukuk maturing in 2022 AD; the second tranche amounts to 2.9 billion Saudi riyals for sukuk maturing in 2024 AD; and the third tranche amounts to 2.1 billion Saudi riyals, maturing in 2027.