RIYADH — Saudi Arabia's National Debt Management Center (NDMC) announced the completion of an early redemption of approximately SR17.1 billion in outstanding Ministry of Finance sukuk, alongside the issuance of about SR17.2 billion in new sukuk.The early redemption covers sukuk maturing in 2026, 2027, 2028, 2029 and 2030.NDMC said the transaction supports its efforts to strengthen the domestic debt market while enhancing the management of government debt obligations and future maturities. The initiative also aligns with broader efforts to improve the sustainability and efficiency of public finances over the medium and long term.The new sukuk issuance was divided into five tranches totaling approximately SR17.2 billion. The first tranche, valued at around SR1.45 billion, will mature in 2031. The second tranche totals approximately SR1.62 billion and matures in 2033. The third, the largest tranche, is valued at approximately SR10.55 billion and matures in 2036. The fourth tranche amounts to around SR1.74 billion, maturing in 2039, while the fifth tranche totals approximately SR1.80 billion and matures in 2041.The Ministry of Finance and NDMC appointed HSBC Saudi Arabia, SNB Capital, Al Rajhi Capital, AlJazira Capital and Alinma Capital as joint lead managers for the transaction.