Saudi Riyal Sukuk Issuance Hits SR 1.64bn in September

Saudi Arabia completed its domestic riyal-denominated sukuk issuance for September at SR 1.64 billion, equivalent to about $437 million, under the government program managed by the National Debt Management Center.

The issuance was split across six tranches with staggered maturities in 2029, 2031, 2033, 2036, 2039, and 2041. The largest tranche was SR 705 million maturing in 2041, followed by SR 650 million maturing in 2031.

The remaining tranches were sized at SR 205 million due in 2029, SR 50 million due in 2033, SR 25 million due in 2036, and SR 5 million due in 2039, giving investors a range of durations to choose from.

Separately, the retail-focused "Sah" sukuk offered for September carried a fixed annual return of 4.80% with a one-year maturity. The minimum subscription was set at SR 1,000 and the maximum at SR 200,000 with the subscription window open from September 6 to September 8.

The retail issue was available only to Saudi citizens aged 18 or older through approved investment platforms. For residents and expats following the Kingdom's financial markets, the regular sukuk program reflects the government's steady use of local-currency debt instruments to support financing needs while offering a widening set of savings and investment options to the domestic market.

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