Saudi Arabia's National Debt Management Center (NDMC) announced today (January 7) the successful completion of its international bond issuance under the Kingdom's Global Medium-Term Note Issuance Programme.

 

According to NMDC, the total order book reached approximately $37 billion, representing an oversubscription three times the total issuance of $12 billion (SAR 45 billion). 

 

The bonds were issued in a triple-tranche offering, with the first tranche totaling $5 billion (SAR 18.75 billion) for a 3-year bond maturing in 2028, it stated in a press release. 

 

The second tranche amounted to $3 billion for a 6-year bond maturing in 2031, while the third tranche was valued at $4 billion for a 10-year bond maturing in 2035.

 

NDMC said this transaction aligns with its strategy to diversify the investor base and efficiently meet the kingdom's financing needs through international debt capital markets. 

 

The bid-to-cover ratio underscores the strong demand for the Kingdom's issuances, reflecting investor confidence in the Kingdom's economic strength and its future investment opportunities, it added.-TradeArabia News Service