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Saudi Arabia’s National Debt Management Center said on September 2 that an international dollar sukuk issuance had been completed under the Kingdom’s Global Trust Certificate Issuance Program. The total was $3.25 billion, equivalent to SAR 12.19 billion, and the authority described it as the country’s second international issuance using an ijara structure.
The certificates were split between a $1.25 billion five-year tranche maturing in 2031 and a $2 billion ten-year tranche maturing in 2036. The order book reached about $16.5 billion, roughly five times the amount issued. NDMC said the transaction supports investor-base diversification and government financing needs.