Arab News, Wednesday, Dec 22, 2021 | Jumada Al-Uola 17, 1443
Saudi Arabia ends the year with local sukuk issuance of $110.5m
Saudi Arabia: The
Saudi government offered denominated sukuk in Saudi riyals worth SR415 million
($110.5 million) for the December issuance, the National Debt Management Center
announced on Tuesday.
The issuance comes under the Kingdom’s
riyal-denominated sukuk program.
The first tranche had a size of SR200 million and
matures in 2029 while the second tranche was valued at SR215 million and matures
in 2031.
The Kingdom collected a total amount of SR74.8
billion of sukuk in monthly issuances for the previous 11 months. Now, it
obtained a total value of SR75.2 billion financing from Sukuk.
The Saudi Finance Ministry established the sukuk
program throough the NDMC in July 2017.
The Kingdom’s public debt stood at SR948.3 billion
at the end of this year’s third quarter, according to the ministry’s latest
quarterly budget report. Domestic debt accounted for 59.1 percent while external
debt made up 40.9 percent of the debt.
In its 2022 budget statement, the ministry
predicted that public debt will reach SR938 billion next year.