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The total value of Saudi-listed sukuk and bond issuances rose by 7% quarter-on-quarter (QoQ) to about SAR 601.7 billion by the end of the second quarter of this year, according to the Saudi Exchange’s (Tadawul) Debt Market Report for Q2 2024.
Total traded value increased in Q2 2024 to nearly SAR 7.09 billion, from SAR 1.85 billion in Q1 2024.
The total number of transactions was down 6% to 11,244 in the three-month period, compared to 12,003 deals a quarter earlier.
The total number of issuances of listed sukuk and bonds amounted to 66 in Q2 2024, compared to 67 in Q1 2024.
Meanwhile, the ratio of listed sukuk and bonds to GDP rose to 17.50% in Q2 2024, from 14.14% in Q1 2024.
|
Details of Listed Sukuk & Bond Issuances |
|||
|
Period |
Value (SAR bln) |
Change (SAR bln) |
Change QoQ |
|
Q1 2020 |
358.00 |
-- |
-- |
|
Q2 |
392.20 |
+34.2 |
+10% |
|
Q3 |
393.43 |
+1.2 |
+0.3% |
|
Q4 |
387.84 |
(5.6) |
(1%) |
|
Q1 2021 |
399.92 |
+12.1 |
+3% |
|
Q2 |
423.25 |
+23.3 |
+6% |
|
Q3 |
451.70 |
+28.5 |
+7% |
|
Q4 |
461.37 |
+9.7 |
+2% |
|
Q1 2022 |
488.00 |
+26.6 |
+6% |
|
Q2 |
512.36 |
+24.4 |
+5% |
|
Q3 |
511.25 |
(1.1) |
(0.2%) |
|
Q4 |
525.32 |
+14.1 |
+3% |
|
Q1 2023 |
526.95 |
+1.6 |
+0.3% |
|
Q2 |
529.76 |
+2.8 |
+1% |
|
Q3 |
534.72 |
+5.0 |
+1% |
|
Q4 |
549.84 |
+15.1 |
+3% |
|
Q1 2024 |
563.96 |
+14.1 |
+3% |
|
Q2 |
601.75 |
+37.8 |
+7% |
The value of listed government sukuk and bonds at the end of Q2 2024 represented about 97.3%, or nearly SAR 585.21 billion, of total issuances.
Meanwhile, sukuk and bonds of listed companies accounted for 2.7%, or SAR 16.54 billion, of the second-quarter total, as shown in the table below:
|
Volume of Listed Sukuk and Bond Issuances |
||||
|
Period |
Listed Government Sukuk and Bonds |
Sukuk and Bonds of Listed Companies |
||
|
Value (SAR bln) |
Ratio (%) |
Value (SAR bln) |
Ratio (%) |
|
|
Q1 2020 |
334.9 |
93.5% |
23.1 |
6.5% |
|
Q2 |
369.6 |
94.2% |
22.6 |
5.8% |
|
Q3 |
370.8 |
94.2% |
22.6 |
5.8% |
|
Q4 |
365.7 |
94.3% |
22.1 |
5.7% |
|
Q1 2021 |
377.8 |
4.5% |
22.1 |
5.5% |
|
Q2 |
401.3 |
94.8% |
22.0 |
5.2% |
|
Q3 |
429.7 |
95.1% |
22.0 |
4.9% |
|
Q4 |
439.8 |
95.3% |
21.6 |
4.7% |
|
Q1 2022 |
466.4 |
95.6% |
21.6 |
4.4% |
|
Q2 |
496.8 |
97.0% |
15.6 |
3.0% |
|
Q3 |
499.6 |
97.7% |
11.7 |
2.3% |
|
Q4 |
503.9 |
95.9% |
21.4 |
4.1% |
|
Q1 2023 |
505.6 |
95.9% |
21.4 |
4.1% |
|
Q2 |
509.7 |
96.2% |
20.0 |
3.8% |
|
Q3 |
514.7 |
96.3% |
20.0 |
3.7% |
|
Q4 |
529.8 |
96.4% |
20.0 |
3.6% |
|
Q1 2024 |
547.4 |
97.1% |
16.5 |
2.9% |
|
Q2 |
585.2 |
97.3% |
16.5 |
2.7% |
In Q2 2024, Saudis owned debt instruments worth about SAR 594.61 billion, representing 98% of the total debt instruments.
Foreign investors’ ownership amounted to about SAR 5.92 billion, while GCC investors’ ownership reached SAR 1.22 billion, as the following table shows:
|
Ownership by Nationality |
||
|
Nationality |
Value (SAR bln) |
Ratio (%) |
|
Saudis |
594.61 |
98.8% |
|
Foreigners |
5.92 |
1.0% |
|
GCC |
1.22 |
0.2% |
|
Total |
601.75 |
100% |
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