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TomTom cuts 300 jobs

The firm said it was realigning its organization as it embraces AI.

Aldar nets $953m in sales at Fahid

Aldar said 42 percent of the buyers are under the age of 45.

Qualcomm to Alphawave for $2.4 bn

The deal makes Alphawave the latest tech company to depart London.

Equinor signs $27 bn gas deal

The 10-year contract was signed with Centrica.

ADNOC Drilling secures $1.15bn contract

The contract for two jack-up rigs begins in the second quarter.

NDMC of Saudi Arabia closes $2.75bn worth March sukuk

the new issuance is part of the Kingdom’s Sukuk Issuance Program
By TRENDS Desk
March 16, 2022 11:08 pm
  • The issuance is divided into two tranches of SR3.5 billion and SR6.8 billion each
  • The first issuance matures in 2030 while the second one will mature in 2034

Saudi Arabia’s National Debt Management Center has closed the March 2022 issuance of Saudi riyal-denominated sukuk, valued at SR10.3 billion ($2.75 billion).

The issuance is divided into two tranches. The first tranche has a size of SR3.5 billion ($930million) maturing in 2030, while the second tranche has a size of SR6.8 billion ($1.81billion) and matures in 2034.

Additionally, the new issuance is part of the Kingdom’s Sukuk Issuance Program, NDMC said in a statement.

The program was established through NDMC in July 2017 by the Saudi Finance Ministry.

It came amid rising demand for both international and domestic fixed income markets that provide safe and guaranteed returns.

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