Saudi Arabia Raises $3.25bn in International Sukuk

The National Debt Management Center (NDMC), operating under the Ministry of Finance, has completed an international sukuk issuance valued at USD 3.25 billion, equivalent to about SAR 12.19 billion, to help meet the Kingdom's financing needs.

The offering was carried out under the Kingdom's Global Trust Certificate Issuance Program and structured on an Ijarah basis, denominated in US dollars and targeted at international investors in global capital markets. The issuance was split into two tranches: a first tranche of USD 1.25 billion (about SAR 4.69 billion) maturing in 2031 over a five-year term, and a second tranche of USD 2.0 billion (about SAR 7.5 billion) maturing in 2036 over a ten-year term.

Demand was strong, with the order book reaching roughly USD 16.5 billion, meaning the issuance was oversubscribed by about five times its total size. The certificates were placed and settled through the special purpose vehicle KSA Ijara Sukuk Limited, using standard international debt market infrastructure.

Why it matters

The transaction forms part of the Kingdom's broader sovereign debt management and funding strategy, which aims to secure financing at competitive terms while diversifying the investor base. Strong global demand reflects continued international confidence in Saudi Arabia's credit and economic direction.

For residents and the wider community, healthy sovereign funding supports the government's ability to finance public spending, infrastructure and development projects that shape daily life across the Kingdom. Publicly available details cover the face amounts and maturities of the two tranches, while specific coupons and spreads were not disclosed in the official summary.

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