The Ministry of Finance announces that it has closed the second domestic Sukuk issuance under the Saudi Arabian Government SAR-denominated Sukuk Program. The subscription applications for these Sukuk exceeded SAR 38 Billion whilst the issuance size was set at SAR 13 Billion, resulting in 295% coverage ratio.
The Sukuk issuances were divided into three tranches as follows:
- the first tranche has a size of SAR 2.1 billion and matures in 2022G.
- the second tranche has a size of SAR 7.7 billion and matures in 2024G.
- the third tranche has a size of SAR 3.2 billion and matures in 2027G.