Saudi Ministry of Finance issues local bonds in Riyadh

Saudi Ministry of Finance issues local bonds in Riyadh (AFP)
Updated 25 December 2017

Saudi Ministry of Finance issues local bonds in Riyadh

RIYADH: Saudi Ministry of Finance announced the completion of receiving additional investors’ requests for issuance of local sukuk by re-opening its fourth IPO for the second time under Saudi Government local currency sukuk program.
The last initial public offering (IPO) was made in October. The total number of the new IPO applications for these Sukuks was approximately SR 10.325 billion.
The volume of re-opening of the issuance was set at a total amount of SR4.775 billion, with a coverage rate of 216 percent.
The additional issuance were divided into three tranches: First tranche with a value of SR 2.400 billion for sukuk payable in 2022, second tranche of SR 1.800 billion for Sukuk maturing in 2024, and third tranche of SR 0.575 billion payable in 2027.
Thus, the total value of the issuance (October 2017) becomes SR 21.455 billion.
Accordingly, the fourth issuance will be closed in full. The total value of the tranches is as follows: The first tranche is SR 7.600 billion, the second tranche is SR 6.680 billion and the third tranche is SR 7.175 billion.


Houthis target Saudi Khamis Mushayt in repeat attack

Updated 22 August 2019

Houthis target Saudi Khamis Mushayt in repeat attack

  • Houthis claimed 10 drones which hit a Saudi natural gas liquefaction plant
  • The Arab coalition said the Houthis are becoming desperate because of their losses

DUBAI: The Arab coalition destroyed two Houthi drones targeting Khamis Mushayt city in south west Saudi Arabia, the state news agency SPA reported on Thursday.

It was the latest in a spate of drone attacks claimed by the Houthi militia in recent weeks, including 10 drones that hit the Saudi Shaybah natural gas liquefaction plant near the UAE border.

Arab Coalition spokesman Col. Turki Al-Maliki said the coalition were taking all possible measures and employing best practices to intercept the drones and stop attacks,

And said the the repeated attacks showed the militants were becoming increasingly desperate as they continued to lose on a daily basis.