Saudi Arabia wasted no time in coming to the primary market following the summer break, issuing a US dollar dual-tranche sukuk comprising five and 10-year notes on Tuesday. Even against a gloomy backdrop of escalating tensions in the region and higher global government bond yields, the kingdom had no qualms in pushing ahead with the issuance, which was prefunding for 2027. The US$3.25bn deal, comprising US$1.25bn five-year and US$2bn 10-year sukuk, had over US$13.5bn of combined orders at launch, in an illustration of how Saudi Arabia (Aa3/A+; Moody's/Fitch) continues to find favour with investors. [...]