Saudi Arabia Issues $12 Billion in Dollar Bonds in 3 Tranches

The Kingdom sold $12 billion worth of US dollar bonds on Tuesday. (SPA)
The Kingdom sold $12 billion worth of US dollar bonds on Tuesday. (SPA)
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Saudi Arabia Issues $12 Billion in Dollar Bonds in 3 Tranches

The Kingdom sold $12 billion worth of US dollar bonds on Tuesday. (SPA)
The Kingdom sold $12 billion worth of US dollar bonds on Tuesday. (SPA)

Saudi Arabia’s National Debt Management Center (NDMC) has completed the first offering of international bonds in 2024 at a value of SR 45 billion ($12 billion), within the international government bond program.
The Kingdom sold $12 billion worth of US dollar bonds on Tuesday, in its largest issuance since 2017. The three-part deal includes bonds maturing in 2030, 2034 and 2054.
According to a statement by NDMC, the value of the first tranche was $3.25 billion for a 6-year bond maturing in 2030. The second tranche totaled $4 billion for a 10-year bond maturing in 2034, while the third totaled $4.75 billion for a 30-year bond maturing in 2054.
The debt center added the total issuance was oversubscribed 2.5 times, reaching around $30 billion.
The statement noted that this step was part of the National Debt Management Center’s strategy to expand the investor base in order to meet the Kingdom’s financing needs from global debt markets efficiently and effectively.
It also stressed that the volume of demand by international investors for government debt instruments reflected their confidence in the strength of the Saudi economy and the future of investment opportunities in the Kingdom.
According to Bloomberg, the Kingdom follows the example of countries such as Mexico, Indonesia, and Poland, which have issued nearly $25 billion in bonds since the beginning of 2024, making it the busiest start to a year ever in terms of dollar and euro-denominated debt issuances in developing countries.
Citigroup, JPMorgan Chase, HSBC Holdings and Standard Chartered are managing the deal.

 

 

 

 



Saudi Mining Licenses Reach 2,401 by End of 2024

Saudi Mining Licenses Reach 2,401 by End of 2024
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Saudi Mining Licenses Reach 2,401 by End of 2024

Saudi Mining Licenses Reach 2,401 by End of 2024

The Saudi Ministry of Industry and Mineral Resources announced on Sunday that the number of valid mining licenses in the Kingdom has reached 2,401 by the end of 2024.

The licenses cover various categories, including mining, exploration, reconnaissance, building materials quarries, and small mine operations.

According to the 2024 Mining Sector Indicators Bulletin, issued by the National Industrial and Mining Information Center, the majority of these licenses were granted for building materials quarries (1,481), followed by exploration (642), mining and small mining exploitation (215), reconnaissance (41), and surplus mineral ore extraction (22).

The bulletin serves as a critical tool for monitoring developments in the mining sector, tracking both existing and newly issued licenses across various regions of the Kingdom. By boosting transparency and providing accurate data, the initiative supports investors and decision-makers in making informed choices that contribute to the sector’s growth and sustainability.