Riyadh: The National Debt Management Center (NDMC) announced the completion of investor request intake for the first international issuance of 2026 for bonds under the Kingdom's Global Medium-Term Note Issuance Programme (GMTN).
According to Saudi Press Agency, the total order book reached approximately $31 billion, indicating an oversubscription rate of 2.7 times. The Kingdom successfully issued a total of $11.5 billion (equivalent to SAR43.13 billion) through a quadruple tranche bond offering. The first tranche is valued at $2.5 billion (equivalent to SAR9.38 billion) for a three-year bond maturing in 2029. The second tranche amounted to $2.75 billion (equivalent to SAR10.31 billion) for a five-year bond maturing in 2031. The third tranche also totaled $2.75 billion (equivalent to SAR10.31 billion) for a 10-year bond maturing in 2036, while the fourth tranche was $3.5 billion (equivalent to SAR13.13 billion) for a 30-year bond maturing in 2056.
This transaction aligns with the recently announced Annual Borrowing Plan, which aims to diversify the investor base and address the Kingdom's financing needs from international debt capital markets efficiently. The strong bid-to-cover ratio highlights the robust demand for the Kingdom's issuances, reflecting investor confidence in the Kingdom's economic resilience and future investment potential.