The National Debt Management Center announced the completion of the first offering in 2024 of international bonds in dollars within the Kingdom of Saudi Arabia’s international government bond program with a total value of 12 billion US dollars.
The National Debt Management Center said that it has completed receiving investor requests for the first international issuance of bonds within the Kingdom of Saudi Arabia’s international government bond program during the year 2024.
The total volume of subscription applications reached approximately 30 billion US dollars, with the coverage ratio exceeding two and a half times the total issuance, which amounted to 12 billion US dollars (equivalent to 45 billion Saudi riyals) divided into three tranches, the first tranche amounting to 3.25 billion US dollars (equivalent to 12.19 One billion Saudi riyals) for 6-year bonds maturing in 2030 AD, while the second tranche amounted to 4 billion US dollars (equivalent to 15 billion Saudi riyals) for 10-year bonds maturing in 2034 AD, and the third tranche amounted to 4.75 billion US dollars (equivalent to 17.81 billion Saudi riyals). Saudi riyals) for 30-year bonds maturing in 2054 AD.
This step is part of the National Debt Management Center's strategy to expand the investor base for the purpose of meeting the Kingdom's financing needs from global debt markets efficiently and effectively, and the volume of demand by international investors for government debt instruments reflects their confidence in the strength of the Saudi economy and the future of investment opportunities in it.
