National Debt Management Center of Saudi Arabia
Basil M.K. Al-Ghalayini
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As the New Year kicked off, the National Debt Management Center (NDMC) closed the January 2021 issuance under the Saudi Arabian Government SR-denominated Sukuk Program.
The issue size was set at SR2.96 billion ($789 million) and the sukuk issuances were divided into two tranches. The first tranche of SR2.08 billion will mature in 2028, while the second tranche of SR880 million is set to mature in 2033.
The NDMC was established in 2015 to secure the Kingdom’s financing needs through the best terms and cost in the short, medium and long terms. Furthermore, terms must be under