The Ministry of Finance announces that it has closed the third domestic Sukuk issuance under the Saudi Arabian Government SAR-denominated Sukuk Program. The subscription applications for these Sukuk exceeded SAR 24 Billion whilst the issuance size was set at SAR 7 Billion, resulting in 350% coverage ratio.
The Sukuk issuances were divided into three tranches as follows:
- the first tranche has a size of SAR 2.4 billion and matures in 2022G.
- the second tranche has a size of SAR 3.9 billion and matures in 2024G.
- the third tranche has a size of SAR 0.7 billion and matures in 2027G.