RIYADH - The Kingdom (TADAWUL:4280) of Saudi Arabia, through its Ministry of Finance, has updated its Global Medium Term Note Programme, as per the Offering Circular dated January 6, 2025. As part of this program, the Kingdom has issued new notes totaling $12 billion, divided into three tranches with varying maturities and interest rates.
On Thursday, the Ministry of Finance announced the pricing supplements for the issuance of three sets of notes under the said program. According to the statement, the first tranche consists of $5 billion 5.125% notes due in 2028, the second tranche includes $3 billion 5.375% notes due in 2031, and the third comprises $4 billion 5.625% notes due in 2035.
The announcement of the pricing supplements follows the recent publication of the Offering Circular, which provides detailed information about the terms and conditions of the notes. The Circular and the individual pricing supplements are accessible online, with links provided in the press release statement.
This issuance is part of Saudi Arabia's ongoing efforts to manage its financing needs and to diversify its funding sources. The notes were issued under the Kingdom's Global Medium Term Note Programme, which is a standardized process that allows issuers to offer and issue a series of notes or bonds over time.
The press release did not specify the intended use of the proceeds from the note issuances. However, such financial activities are typically used to fund government initiatives, refinance existing debt, or manage the country's fiscal requirements.
The details of the transaction, including the terms, interest rates, and maturities, are based on the information provided in the press release statement. The Kingdom of Saudi Arabia's Ministry of Finance acts as the issuer for these financial instruments, reflecting its responsibility for the country's financial affairs.
Investors interested in the specifics of the notes and their terms can refer to the documents made available through the provided URLs. The press release emphasizes that access to the offering documents is subject to certain conditions and disclaimers, particularly concerning the intended audience for this financial information.
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