Saudi Arabia raises $2 bln from sukuk issuance

The Debt Management Office (DMO) of Saudi Arabia's Ministry of Finance on Wednesday said it has raised $2 billion under its second international issuance as part of the government's dollar-denominated sukuk program.

The settlement of the new sukuk issuance, which will mature in January 2029, is expected to be around September 19.

"This issuance has seen a great deal of demand from international investors, with total orders amounting to more than $10 billion, reflecting the strength and robustness of the Saudi economy," the statement added.

The DMO established the "International Sukuk Issuance Program" in April 2017, appointing a number of local and international investment banks to coordinate and arrange international sukuk issuances.