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Press Dossier    By Date   12/01/2023 NDMC closes $10bn bond offering, receives over $38bn in bids

Arab News, Thursday, Jan 12, 2023 | Jamadi Al Thani 19, 1444

NDMC closes $10bn bond offering, receives over $38bn in bids

Saudi Arabia: Saudi Arabia’s National Debt Management Center has received more than $38 billion in bids for its dollar-denominated bonds issuance, as it announced the completion of receiving investor requests for this year’s first international issuance.

The issuances were made under the Kingdom’s Global Medium-Trust Note Issuance Program, NDMC said in a statement on Wednesday.

The Kingdom issued a total of $10 billion (SR 37.5 billion) divided into three tranches.The first tranche is valued at $3.25 billion for a five-year bind maturing in January 2028, the second valued at $3.5 billion for a 10.5 year bond maturing in 2033 while $3.25 billion for a 30-year bond maturing in January 2053.

The debt management center, on behalf of the Ministry of Finance, also announced its arrangement of the first partial repurchase offer for the Kingdom’s dollar-denominated bonds maturing in 2023, 2025 and 2026. 

The tender offers are being made as part of the Kingdom’s debt management exercise, which includes the pro-active management of its refinancing risk and debt maturities of the debt portfolio, the statement added. 

The repurchase amounts will be announced upon completion of the offers’ window on Oct. 24, it added.

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