The National Debt Management Center (NDMC) has completed an early buyback of part of Saudi Arabia’s outstanding government debt, according to a statement released on May 4, 2025. The buyback targeted issuances maturing between 2025 and 2029, with a total value of about SAR 60.4 billion.
At the same time, the NDMC issued new Sukuk totaling approximately SAR 60.3 billion. The new issuances were divided into five tranches: around SAR 21.5 billion maturing in 2032, SAR 1.8 billion maturing in 2035, SAR 14.2 billion maturing in 2036, SAR 5.9 billion maturing in 2039, and SAR 16.9 billion maturing in 2040.
The NDMC stated that this move is part of its ongoing efforts to strengthen the domestic market and manage government debt obligations as well as future maturities. It also aims to coordinate with other initiatives to improve public finances over the medium and long term.
“The National Debt Management Center (NDMC) announced the completion of an early buyback of portion of the outstanding issuances maturing in 2025, 2026, 2027, 2028, and 2029, with a total value of approximately SAR 60.4 billion. This was accompanied by the issuance of new Sukuk totaling around SAR 60.3 billion (sixty billion and three hundred million Saudi Riyals).”
“This initiative continues the NDMC’s ongoing efforts to strengthen the domestic market, fulfill its role in managing government debt obligations and future maturities, and ensure coordination with other initiatives to enhance the country’s public finances in the medium and long term.”
“The Center divided the new Sukuk issuances into five tranches totaling approximately SAR 60.3 billion. The first tranche amounted to around SAR 21.5 billion maturing in 2032, the second SAR 1.8 billion maturing in 2035, the third SAR 14.2 billion maturing in 2036, the fourth SAR 5.9 billion maturing in 2039, and the fifth SAR16.9 billion maturing in2040.”
“The Ministry of Finance (the issuer) and the NDMC appointed HSBC Saudi Arabia, NCB Capital, Al Rajhi Capital, Aljazira Capital, and Alinma Investment jointly as joint lead managers for the transaction.”
The appointed joint lead managers for this transaction were HSBC Saudi Arabia, NCB Capital, Al Rajhi Capital, Aljazira Capital, and Alinma Investment.
