Saudi NDMC says order book tops $31 bln for first 2026 international bond issuance

Riyadh, January 6, 2026 (Saudi Arabia Breaking News) – Saudi Arabia’s National Debt Management Center (NDMC) said it completed investor request intake for the Kingdom’s first international bond issuance of 2026 under its Global Medium-Term Note Issuance Programme (GMTN), with an order book of around $31 billion.

NDMC said the order book represented an oversubscription of 2.7 times, and that the Kingdom issued a total of $11.5 billion (equivalent to SAR43.13 billion) through a quadruple-tranche offering.

The first tranche was $2.5 billion (SAR9.38 billion) in three-year bonds maturing in 2029, NDMC said. The second tranche was $2.75 billion (SAR10.31 billion) in five-year bonds maturing in 2031.

The third tranche was $2.75 billion (SAR10.31 billion) in 10-year bonds maturing in 2036, while the fourth tranche was $3.5 billion (SAR13.13 billion) in 30-year bonds maturing in 2056, it added.

NDMC said the issuance was conducted in line with the recently announced Annual Borrowing Plan, aimed at diversifying the investor base and meeting the Kingdom’s financing needs from international debt capital markets.

The bid-to-cover ratio reflects strong demand for the Kingdom’s issuance and underscores investor confidence in the Saudi economy and future investment opportunities, NDMC said.