RIYADH: Saudi Arabia’s National Debt Management Center closed its local currency sukuk program for May having issued SR3.53 billion ($941 million) of the riyal-denominated debt, the Ministry of Finance said in a statement today.
The majority of the debt, SR3.31 billion, matures in 2028, while the remaining SR225 million matures in 2033, the ministry said on its website.
The National Debt Management Center was established in 2015 following a sharp decline in oil prices in 2014. The government issued bonds and sukuk worth more than $200 billion in the following five years, according to S&P Global Ratings.
Saudi Arabia issued $3.1 billion of local currency sukuk in April and $2.1 billion in March.