RIYADH — Saudi Arabia’s National Debt Management Center (NDMC) has completed the early redemption of approximately SR17.1 billion in outstanding Ministry of Finance sukuk while issuing around SR17.2 billion in new sukuk as part of its ongoing debt management strategy.

The early redemption covers sukuk that were originally scheduled to mature between 2026 and 2030, helping optimize the Kingdom’s debt portfolio and manage future financial obligations more efficiently.

According to the NDMC, the transaction supports efforts to strengthen the domestic debt market while enhancing the sustainability and efficiency of public finances over the medium and long term.

The newly issued sukuk were divided into five tranches with a combined value of approximately SR17.2 billion.

The first tranche, valued at approximately SR1.45 billion, will mature in 2031. The second tranche, worth around SR1.62 billion, is scheduled to mature in 2033.

The largest tranche, valued at approximately SR10.55 billion, will mature in 2036. The fourth tranche, totaling around SR1.74 billion, is set to mature in 2039, while the fifth tranche, worth approximately SR1.80 billion, will mature in 2041.

The Ministry of Finance and the NDMC appointed HSBC Saudi Arabia, SNB Capital, Al Rajhi Capital, AlJazira Capital, and Alinma Capital as joint lead managers for the sukuk transaction.