The Ministry of Finance announces that it has completed the second tap offering of the 2017-10 issuance under the Saudi Arabian Government SAR-denominated Sukuk Program. The additional subscription applications for these Sukuk were almost SAR 10.325 Billion. The tap issuance size was set at SAR 4.775 Billion, resulting in 216% coverage ratio.
The further Sukuk issued were divided into three tranches as follows:
- The first tranche has a size of SAR 2.400 billion and matures in 2022G.
- The second tranche has a size of SAR 1.800 billion and matures in 2024G.
- The third tranche has a size of SAR 0.475 billion and matures in 2027G.
This brings the grand total amount of the 2017-10 issuance to SAR 21.455 Billion. Consequently, the fourth issuance is completely closed and the total value of its tranches is as follows:
- The first tranche has a size of SAR 7.600 billion
- The second tranche has a size of SAR 6.680 billion
- The third tranche has a size of SAR 7.175 billion