Saudi Arabia raises $12B in international bond issue

The Kingdom of Saudi Arabia's flag

Saudi Arabia closed investor requests for the first international bond issuance in 2024, as part of the Saudi Government International Bond program, National Debt Management Center (NDMC) announced.

Total subscription requests reached approximately $30 billion, exceeding two and a half times the total issuance of $12 billion (SAR 45 billion), divided into three tranches, NDMC said in a statement.

The first tranche amounted to $3.25 billion (SAR 12.19 billion) for six-year bonds maturing in 2030. The second tranche was $4 billion (SAR 15 billion) for 10-year bonds maturing in 2034, while the third tranche was $4.75 billion (SAR 17.81 billion) for 30-year bonds maturing in 2054.

This move is part of the center's strategy to broaden the investor base, with the aim of efficiently meeting the Kingdom's financial requirements from global debt markets.

The significant interest from international investors in government debt instruments reflects their confidence in the robust Saudi economy and the prospective investment opportunities it offers, the statement added.