The National Debt Management Center (NDMC) has successfully completed an early redemption of a portion of the issuer’s outstanding sukuk, which were set to mature in 2025, 2026, 2027, 2028, and 2029. The total value of this transaction is approximately SAR 60.4 billion. Alongside this redemption, NDMC has issued new sukuk valued at around SAR 60.3 billion.
According to NDMC, “This initiative is a continuation of NDMC’s efforts to strengthen the domestic market and enables NDMC to exercise its role in managing the government debt obligations and future maturities.” This effort is part of broader initiatives aimed at optimizing public fiscal management over the medium and long term.
The new sukuk issuances are divided into five tranches with varying maturity dates. The first tranche amounts to approximately SAR 21.5 billion and will mature in 2032. The second tranche is about SAR 1.8 billion with a maturity date in 2035. The third tranche totals roughly SAR 14.2 billion maturing in 2036, while the fourth tranche is around SAR 5.9 billion maturing in 2039. Finally, the fifth tranche amounts to approximately SAR 16.9 billion with a maturity date set for 2040.
The Ministry of Finance and NDMC have appointed several financial institutions as Joint Lead Managers for this transaction: HSBC Saudi Arabia, SNB Capital, Al Rajhi Capital, AlJazira Capital, and Alinma Investment.
