NDMC, in behalf of The Ministry of Finance, has announced its arrangement of the first international partial earlier repurchase offer exercise for Notes denominated in USD maturing in 2023, 2025, and 2026. The tender offers are being made as part of the Kingdom's effective debt management, which includes the pro-active management of its refinancing risk and debt maturities of the debt portfolio. The repurchase amounts will be announced upon completion of the offers' window which is on October 24, 2022.
In addition, the NDMC announced the completion of receiving investor requests for the first international issuance of the year 2022 of Sukuk and bonds within the Kingdom's Global Trust Certificate Issuance Programme and Global Medium term Note Issuance Programme.
The total amount of all bids received exceeded USD 27 Bn, which is oversubscribed by 5 times of the total issuance of USD 5 Bn (equivalent to SAR 18.75 Bn), divided into two tranches: USD 2.5 Bn (equivalent to SAR 9.4 Bn) for 6-year Sukuk maturing in 2028, and USD 2.5 Bn (equivalent to SAR 9.4 Bn) for a 10-year bond maturing in 2032.
*Numbers are rounded to the nearest decimal.