RIYADH: The Saudi government issued SR13.18 billion ($3.5 billion) in its SAR-denominated sukuk program for February, the National Debt Management Center announced on Tuesday.

The sukuk issuance was divided into two tranches. The first tranche had a size of SR7.5 billion and it will mature in 2030. The second tranche valued at SR5.6 billion will mature in 2034.

The program was established through NDMC in July 2017 by the Saudi Finance Ministry amid rising demand for both international and domestic fixed income markets that provide safe and guaranteed returns.