The National Debt Management Center (NDMC) announced the completion of receiving investors ' requests for the first international issuance during the year 2023 for bonds under the Kingdom's Global Medium-Term Note Issuance Programme (GMTN).
The total order book reached over USD 38 billion, which equals an oversubscription of 3.8 times. The Kingdom issued a total of USD 10 billion (equivalent to SAR 37.50 billion) via a triple tranche bond offering. The value of the first tranche is at USD 3.25 billion (equivalent to SAR 12.19 billion) for a 5-year bond maturing in January 2028. The second tranche totaled USD 3.50 billion (equivalent to SAR 13.13 billion) for a 10.5-year bond maturing in July 2033, while the third tranche totaled USD 3.25 billion (equivalent to SAR 12.19 billion) for a 30-year bond maturing in January 2053.
This transaction is part of NDMC's strategy to diversify the investor base and meet the Kingdom's financing needs from international debt capital markets efficiently and effectively. The bid-to-cover ratio reflects the strong demand of the Kingdom's issuances, confirming the investors' confidence in the strength of the Kingdom's economy and its investment opportunities future.