Fsdp Quarterly Newsletter Q1 2025 · Page 10

 
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Securing USD 2.5 bn Revolving Credit Facility to 
Finance the General Budgetary Needs 
The National Debt Management Center (NDMC) has 
announced the completion of arrangement for securing a 
Shariah-compliant revolving credit facility worth USD 2.5 
bn (equivalent to SAR 9.4 bn). The credit facility, which 
spans a tenure of three years, is aimed at financing the 
general budgetary needs, and was secured with the 
participation of three regional and international financial 
institutions. The arrangement of these credit facilities 
aligns with the Kingdom's medium-term public debt 
strategy, aimed at diversifying funding channels to meet 
financing needs at fair pricing within well-defined risk 
management frameworks, and in accordance with the 
approved annual borrowing plan, by leveraging market 
opportunities 
to 
execute 
alternative 
government 
financing activities that promote economic growth, such 
as financing development and infrastructure projects. 
International Bonds of USD 12 bn 
The 
National 
Debt 
Management 
Center 
(NDMC) 
announced the completion of receiving investors ' 
requests for the international issuance for bonds under 
the Kingdom's Global Medium-Term Note Issuance 
Programme (GMTN). The total order book reached around 
USD 37 bn, which equals an oversubscription of 3 times of 
the total issuance of USD 12 bn (equivalent to SAR 45 bn) 
via a triple tranche bond offering. The value of the first 
tranche is at USD 5 bn (equivalent to SAR 18.75 bn) for a 
3-year bond maturing in 2028. The second tranche totaled 
USD 3 bn (equivalent to SAR 11.25 bn) for a 6-year bond 
maturing in 2031, while the third tranche totaled USD 4 
bn (equivalent to SAR 15 bn) for a 10-year bond maturing 
in 2035. 
The Ministry of Finance and the National Debt 
Management Center announce the issuance of sukuk in 
the form of leasing 
The Ministry of Finance and the National Debt 
Management Center announced the development of the 
"Saah" government savings sukuk program through the 
issuance of sukuk in the form of leasing. These sukuks will 
continue to be offered through the following financial 
institutions: AlAhli Capital, AlJazira Capital, Alinma 
Capital, AlAwwal Capital, and AlRajhi Capital. 
This announcement of the development of the program 
comes within the framework of the Kingdom's ongoing 
efforts to meet the needs of individuals and provide 
innovative solutions for savings products, "Saah" product 
is one of the initiatives of the Financial Sector 
Development Program, which aims to raise savings rates 
among individuals by encouraging them to deduct a 
portion of their income periodically and allocate it to 
savings. In addition to increasing the supply of savings 
products, and enriching financial education with the 
importance of saving and its benefits in planning for 
future goals. The "Saah" Sukuk are scheduled to be issued 
in the form of a lease in March 2025 offering round. This 
structure will continue for future issuances. 
The Minister of Finance Approves the 2025 Annual 
Borrowing Plan 
His Excellency the Minister of Finance, Mr. Mohammed 
bin Abdullah Aljadaan, has approved the Annual 
Borrowing Plan for the fiscal year 2025, following its 
endorsement by the Board of Directors of the National 
Debt Management Center. The plan highlights key
developments in public debt for 2024, initiatives related 
to local debt markets, and the funding plan and its 
guiding principles for 2025, in addition to th