2020 Q3 Report En · Page 8

 
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National Debt Management Center Announces the 
Completion of First Early Redemption of Outstanding Bonds 
The Kingdom of Saudi Arabia, acting through the Ministry of 
Finance (the "Issuer") announces the completion of an early 
redemption of a portion of the issuer’s outstanding bonds 
maturing in August, September, November and December of this 
year 2020G with a total value of thirty-four billion two hundred 
and sixty million Saudi Riyal. At the same time, the issuer has, at 
the request of selling bondholders, issued new sukuk under its 
local sukuk programme. 
This exercise is one of the initiatives of the National Debt 
Management Center (“NDMC”) intended to unify the local 
issuances of the Issuer under the framework of the local Sukuk 
programme of the issuer in the Kingdom of Saudi Arabia. This step 
constitutes the first phase of the said initiative, with further 
phases to follow until complete unification of local issuances is 
achieved.  
The new sukuk issuances comprise four tranches with a total 
value of Thirty-four billion six hundred and forty-five million 
Saudi Riyals. The first tranche with an amount of SAR 8,970 
million maturing in 2024, the second tranche with an amount of 
SAR 6,025 million maturing in 2028, the third tranche with an 
amount of SAR 6,500 million maturing in 2032 and the fourth 
tranche with an amount of SAR 13,150 million maturing in 2035. 
The issuer has appointed HSBC Saudi Arabia and Samba Capital 
& Investment Management Company as joint placement agents 
and dealer managers with respect of this project. 
His Excellency the Minister of Finance Participates in the 
World Economic Forum (WEF) 
His Excellency the Minister of Finance, Acting Minister of 
Economy and Planning, Mr. Mohammed Al-Jadaan, participated 
in a virtual dialogue session under the theme of “Economic 
Recovery and New Trajectories for Growth,” as part of the “Great 
Reset” WEF events. 
The dialogue session was introduced by Børge Brende, President 
of the World Economic Forum, attended by Kristalina Georgieva, 
Managing Director at International Monetary Fund (IMF), Anne 
Richards, Chief Executive Officer at Fidelity International, and 
Cameron Hepburn, Professor of Environmental Economics at 
Smith School of Enterprise and the Environment (SSEE), and was 
moderated by Adrian Monck, Managing Director at World 
Economic Forum. The Minister spoke about the role of Saudi 
Arabia's G20 Presidency and the actions and measures that the 
G20 countries have taken to respond to the Coronavirus 
Pandemic (COVID-19). His Excellency also spoke about the 
Kingdom’s plans and measures for structural and reform 
transformations on the national level, as well as issues pertaining 
to economic diversification and investment into crucial and 
digital infrastructures. 
SVC Signs an Investment Contract with Merak Capital 
Saudi Venture Capital Company (SVC) signed an investment 
contract with the Venture Capital Fund (Merak Capital). A 
Technology investment institution licensed by CMA. The 
agreement is purposed to further accelerate the establishment of 
venture capital funds that invest in startups throughout their
growth cycle. This step is part of FSDP & Monsha’at’s Private
Sector Empowerment Office initiatives to accelerate and drive 
forward venture capital. 
The Saudi Venture Investment Company's investment in Merak 
Capital comes in line with its funds investment program to 
stimulate capital funding for SMEs and entrepreneurs