Saudi Arabia raises $2.27 billion in Islamic bonds

Saudi King Salman reads a document as he receives two newly appointed Saudi ambassadors at his palace in Riyadh, Saudi Arabia, Sunday, March 8, 2020. Two senior princes in Saudi Arabia are under arrest for not supporting Crown Prince Mohammed bin Salman, who has consolidated control of all major levers of power with the support of his father, King Salman, two people close to the royal family said Saturday. (Saudi Press Agency via AP)

CAIRO (RAHNUMA): Saudi Arabia has raised 8.495 billion riyals ($2.27 billion) in sukuk, or Islamic bonds, in June, the finance ministry said on Sunday.

The first tranche of the sukuk issue is 2.494 billion riyals, and the total tranche size is 5.017 billion riyals, maturing in 2027, a ministry statement said.

The second tranche has a size of 3.670 billion riyals , and a total tranche size of 13.966 billion riyals, maturing in 2030.

The third tranche has a size of 2.331 billion riyals, and a total tranche size of 10.569 billion riyals, maturing in 2035.

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