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After raising $ 2 billion. Saudi Arabia is busy selling sukuk

After raising $ 2 billion. Saudi Arabia is busy selling sukuk

Saudi Arabia raised $ 2 billion for the sale of new sukuk in the second-largest sukuk sales of the kingdom, after having sold 9 billion dollars last year to be eligible for the external financing needs of 2018.

The Sukuk sale was part of the Ministry of Finance's commitment to develop Sharia-compliant debt markets, the Saudi Public Debt Management Office said in a statement on Thursday.

The Saudi Ministry of Finance began to sell Islamic bonds at an initial indicative price of around 145 basis points above the average fixed and variable interest rate swaps.

The benchmark price was reduced to a final price of 127 basis points above the average fixed and floating rate, which corresponds to a return of 4.3%.

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