Saudi Arabia plans to launch 2nd local currency sukuk issuance next week

DUBAI - 16 August 2017: Saudi Arabia plans to launch the second issue of its local currency sukuk program during the week beginning on August 20, the ministry of finance said on Wednesday.

Saudi Arabia made its first offer of riyal-denominated sukuk, or Islamic bonds, in late July.

The government, which is raising debt financing to cover a budget deicit caused by lower oil prices, raised 17 billion riyals ($4.53 billion) with the first issuance.