Saudi Arabia finance ministry announces closure of August issuance of sukuk program

Saudi Arabia’s finance ministry announced on Saturday the closure of the August 2020 issuance of the government’s sukuk progam. (AP/File Photo)

• The issuance size of the sukuk program in August was set at 500 million riyals

LONDON: Saudi Arabia’s finance ministry announced on Saturday the closure of the August 2020 issuance of the government’s sukuk progam.

The first tranche of the sukuk, or Islamic bonds, has a size of 100 million riyals ($26.6 million) and a total tranche size of 6.125 billion riyals, maturing in 2028, the ministry said.

Closure of the August 2020 Issuance under the Saudi Arabian Government SAR-denominated Sukuk Programhttps://t.co/SkcKBtd84N

— وزارة المالية السعودية (@MOFKSA) August 22, 2020

The second tranche of the sukuk has a size of 400 million riyals and a total tranche size of 13.515 billion riyals, maturing in 2035.

The issuance size of the sukuk program in August was set at 500 million riyals, the ministry said.

In June, Saudi Arabia raised 8.495 billion riyals in sukuk.