The Kingdom, represented by the Ministry of Finance (the issuer), announced the completion of the early purchase of part of the existing bonds and securities of the issuer due in August, September, October, November, and December of next year (2022), with a total value exceeding 33 billion riyals, in addition to issuing new bonds as part of the Saudi Riyal bond issuance program.
This process is one of the initiatives of the National Center for Debt Management aimed at unifying the local issuance of bonds within the framework of the program for issuing securities in Saudi Riyal.
This step is also the second phase of the initiative that began in 2020, which will be followed by other phases leading to the unification of all local issues and allowing all bondholders to benefit from the zakat recovery applied in the Saudi Riyal bond issuance program. .
This comes in continuation of the efforts made by the Center to strengthen the local market, and to keep pace with market developments that have been reflected in the increase in trading volume in the secondary market. It also serves to activate the Center\u2019s role in managing government debt obligations and future benefits, ensuring that the Kingdom reaches the debt markets at a fair price, and to complement efforts with other initiatives to strengthen public finances in the medium and long term.
The center divided the issuance of new bonds into four tranches, totaling SAR 33.48 billion.
The first tranche amounted to 11.11 billion riyals with a maturity date of 2029, while the second tranche amounted to 5.57 billion riyals with a maturity date of 2031, while the third tranche amounted to 11.36 billion riyals and a maturity date of 2033, and the fourth tranche amounted to 5.44 billion riyals and is due in 2036.
The Ministry of Finance and the Center appointed HSBC Saudi Arabia, Ahli Capital, and Rujaihi Financial jointly as primary issuance managers, in addition to Al Jazeera Capital and Al-Nadhmiya Investment as secondary issuance managers.<\/p>","protected":false},"excerpt":{"rendered":"
Reading time: <\/span> < 1<\/span> Minute<\/span><\/span>The Kingdom, represented by the Ministry of Finance (the Issuer), announced the completion of an early redemption of a portion of the Issuer\u2019s existing bonds and sukuk maturing in August, September, October, November, and December of next year (2022), with a total value exceeding 33 billion riyals, in addition to the issuance of new sukuk under the Saudi Riyal Sukuk Issuance Program. This operation is one of the initiatives of the National Center for Debt Management, which aims to \u2026 Read 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