RIYADH: Saudi Arabia’s National Debt Management Center has announced the completion of its first partial repurchase offer for the Kingdom’s dollar-denominated bonds and the US dollar-denominated issuance of sukuk and bonds maturing in 2028 and 2032, respectively, with a total value of $5 billion.
According to a statement, the first partial repurchase of the Kingdom’s outstanding US dollar-denominated bonds maturing in 2023, 2025, and 2026 stood at a total value of $1.26 billion.
“This transaction is being made as part of the Kingdom’s effective sovereign debt management, which includes the pro-active management of its refinancing risk and debt maturities of the debt portfolio,” the statement added.
On Oct. 19, NDMC announced that it received more than $27 billion in bids for its dollar-denominated sukuk and bonds issuance.
This was oversubscribed by five times the total issuance of $5 billion, which was divided into two tranches — $2.5 billion for a six-year sukuk maturing in 2028, and $2.5 billion for a 10-year bond maturing in 2032.
