"Saudi Arabia opened in September with a USD 5.5 billion dual-tranche sovereign Ijara sukuk that drew roughly USD 19 billion in orders, followed by PIF's USD 2 billion 10-year bond, which was covered 4 times and Aramco's USD 3 billion dual-tranche sukuk with the 5-year bond issue priced at 4.125% and the 10-year at 4.625% with the total order reaching more than USD 16.8 billion."
"Debt issuance was particularly active in the financial sector. By the end of August, Saudi banks had issued USD 9.5 billion in sukuk, including USD 4.2 billion of AT1, evidence of balance-sheet optimization amid strong credit growth. That momentum carried into September: Al Rajhi Bank raised USD 1 billion in 10-year sukuk at 5.65%; Bank AlJazira issued USD 500 million worth of AT1 sukuks; and Almarai issued USD 500 million in 5-year sukuk at 4.45%, with orders reaching USD 2.1 billion."
Saudi Arabia's debt markets remain active and attract strong demand from investors. Corporates and banks increasingly use sukuk and bonds for financing, expanding issuer diversity. September issuance included a USD 5.5 billion sovereign Ijara sukuk with about USD 19 billion of orders, PIF's USD 2 billion 10-year bond covered four times, and Aramco's USD 3 billion dual-tranche sukuk with strong orders. Earlier deals included Saudi Electricity Company's USD 2.75 billion sukuk and Ma'aden's USD 1.25 billion debut sukuk oversubscribed 9.2 times. Financial-sector issuance reached USD 9.5 billion by end-August, including USD 4.2 billion of AT1. Robust oversubscription supports longer-term funding despite softer H1 issuance.
Read at London Business News | Londonlovesbusiness.com
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