Key changes include the reduction of minimum issuance size, and expanding the listing rules to accommodate for exempt debt offerings.
The amendments aim to facilitate listing requirements, enhancing the local debt market's attractiveness and boosting investor participation.

Riyadh – 13 November 2024: The Saudi Exchange has announced amendments to the Listing Rules for debt instruments, aligned with the CMA's significant market enhancements, effective from its publishing date. These changes aim to create greater depth and liquidity in the overall debt capital market, through boosting investor participation and unlocking the potential for debt issuances. The amendments to the Listing Rules of debt instruments are designed to facilitate listing requirements while strengthening market integrity and efficiency.

The amendments introduce several enhancements, including the reduction of minimum issuance size for Sukuk and bonds, making it easier for all issuers (including SMEs) to issue debt instruments.  Additionally, excluding offered Debt Instruments by way of exempt offer in accordance with the Rules on the Offer of Securities and Continuing Obligations issued by the Kingdom's development funds and banks and the Kingdom's sovereign funds from the provisions of part 3 of the amended Listing Rules.

Mohammed Al Rumaih, CEO of the Saudi Exchange, said: 'The amendments to the Listing Rules of debt instruments mark a significant milestone in the continued development of Saudi Arabia's debt capital market, further reinforcing our commitment to building a globally competitive and sophisticated debt capital market. By facilitating the listing requirements for debt instrument, we are increasing the attractiveness of the local debt capital market to drive increased participation from issuers and investors. As we move forward, the Saudi Exchange remains focused on providing a robust platform for debt financing that supports the Kingdom's Vision 2030 ambitions, specifically the Financial Sector Development Program aspirations in deepening the debt capital market.'

In recent years, the Saudi debt capital market has undergone significant transformation through a series of reforms designed to align with global standards and improve market efficiency. Key post-trade infrastructure enhancements introduced in 2023 have increased the liquidity and transparency of the local debt capital market.

The Saudi Exchange aims to enable the financing of the Kingdom's economy and local companies through the issuance of debt instruments, while reinforcing the Kingdom's position as a leading global hub for debt instruments.