Chicago, May 24 – The Kingdom of Saudi Arabia listed a new $6 billion sukuk offering under the kingdom’s global trust certificate issuance program, according to a press release.
The total order book was over $27 billion.
The deal broke into a $3 billion six-year sukuk with a 4.274% profit rate and a second $3 billion sukuk, but with a 10-year tenor and a 4.511% profit rate.
This is the kingdom’s first dual-tranche sukuk issuance since 2017 and its second international transaction of 2023.
Citigroup Global Markets Ltd., J.P. Morgan Securities plc and Standard Chartered Bank were the joint global coordinators and active bookrunners.
Passive bookrunners were AlJazira Capital Co., BNP Paribas and Goldman Sachs.
The issuer is KSA Sukuk Ltd.
The certificates are listed on the London Stock Exchange.
| Issuer: | KSA Sukuk Ltd.
|
| Amount: | $6 billion
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| Issue: | Sukuk
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| Bookrunners: | Citigroup Global Markets Ltd., J.P. Morgan Securities plc, Standard Chartered Bank, AlJazira Capital Co., BNP Paribas and Goldman Sachs
|
| Announcement date: | May 16
|
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|
| Six-year sukuk
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| Amount: | $3 billion
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| Maturity: | May 22, 2029
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| Profit rate: | 4.274%
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| ISIN: | XS2626270040
|
|
|
| 10-year sukuk
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| Amount: | $3 billion
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| Maturity: | May 22, 2033
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| Profit rate: | 4.511%
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| ISIN: | US48266XAH89
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