Over $33 billion response for first Saudi sukuk

It consists of two tranches of certificates

Image credit: AFP/Wam

RIYADH 14 April 2017: The Saudi Ministry of Finance has said that it has received significant interest in its first international issue of the Sukuk programme with an order book from investors in excess of US$ 33 billion, equivalent to SAR 123.75 billion.

According to the Saudi Press Agency, SPA, the total amount of the issue has been sized  at S$9 billion (SAR 33.75 billion).

This consist of two tranches of certificates, $4.5 billion (SAR 16.875 billion) certificates maturing in 2022 and $4.5 billion (SAR 16.875 billion) certificates maturing in 2027, reported Wam.

By Rajive Singh