NDMC ends February sukuk issuance raising SR7.874 billion

The National Debt Management Center (NDMC) has completed the February 2024 issuance under the Saudi Arabian Government SAR-denominated Sukuk Program, with the total funds raised amounting to SR7.874 billion. This issuance has been divided into three distinct tranches to support various maturity profiles. The first tranche of the issuance amounts to SR1.180 billion and is scheduled to mature in 2029. This tranche caters to investors looking for medium-term investment opportunities within the Kingdom's sovereign Sukuk offerings. The second tranche has been set at SR2.720 billion, with a longer maturity date in 2034. This tranche is designed for investors seeking a more extended investment horizon, balancing between medium and long-term financial commitments. The third and final tranche is the largest, amounting to SR3.973 billion, and it is set to mature in 2039. This tranche targets investors who are inclined toward long-term investments, offering a substantial period before maturity, which aligns with the strategic financial planning and stability objectives of the Kingdom's debt management strategy.           Saudi Gazette 

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