Market updates and forecasts

Get the latest economic news from ForexMart, including updates on the financial market, central banks' policy announcements, financial indicators, and other relevant news which can have an impact on the industry.

Disclaimer:  Information provided here to retail and professional clients does not contain and should not be construed as containing investment advice or an investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance.

Saudi Arabia has bought $9.5 billion of government debt


August, 14 2023
watermark Economic news

The National Debt Management Center (NDMC) of Saudi Arabia has completed the largest early repurchase of debt instruments in its history. According to the ministry, obligations worth over 35.7 billion rials (approximately $9.5 billion) were repaid, which were to be repaid in the period from 2024 to 2026.


In addition to this step, NDMC announced the issuance of Islamic bonds (sukuk) worth about 35.9 billion rials. This decision is part of NDMC's strategy to strengthen the national market and adapt to current market conditions. 


Such actions had a positive impact on the activity of the secondary market and correspond to the long-term strategy of strengthening the state finances of the kingdom.


The new bond issue will be divided into four parts: the first part will amount to approximately 7.5 billion rials and will be repaid in 2031, the second part will amount to 14.5 billion rials and will be repaid in 2032. The third part will amount to 10.8 billion rials and will be repaid in 2033. And finally, the fourth part will amount to 3.2 billion rials and will be repaid in 2038.


HSBC Saudi Arabia, AlRajhi Capital, SNB Capital and AlJazira Capital were appointed as the leading managers of this placement.


Feedback

ForexMart is authorized and regulated in various jurisdictions.

(Reg No.23071, IBC 2015) with a registered office at Shamrock Lodge, Murray Road, Kingstown, Saint Vincent and the Grenadines

Restricted Regions: the United States of America, North Korea, Sudan, Syria and some other regions.


© 2015-2024 Tradomart SV Ltd.
Top Top
Risk Warning:
Foreign exchange trading carries a high risk of losing money due to leverage and may not be suitable for all investors. Before deciding to invest your money, you should carefully consider all the features associated with Forex, as well as your investment objectives, level of experience, and risk tolerance.
Foreign exchange trading carries a high risk of losing money due to leverage and may not be suitable for all investors. Before deciding to invest your money, you should carefully consider all the features associated with Forex, as well as your investment objectives, level of experience, and risk tolerance.