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Saudi Arabia plans to issue US$9.6 billion in sukuk after buy-back
15 Aug 2023 | Tuesday Source: The Edge Markets
Saudi Arabia has completed an early purchase of more than 35.7 billion riyals (US$9.5 billion) of outstanding debt and will issue about 35.9 billion riyals in sukuk as the kingdom plans to bolster its domestic market.
The government bought a portion of its debt instruments maturing in 2024, 2025 and 2026, the National Debt Management Center said in a statement on Sunday. The buy-back represents the largest early purchase transaction arranged by NDMC.
