Saudi Arabia is expected to announce soon a potential new USD-denominated sukuk deal, sources familiar with the matter said. The size of the planned sukuk is to be determined and depends on market appetite, but it is unlikely to match Saudi Arabia’s previous jumbo debt transactions, said the sources. The new debt issue will be Saudi Arabia’s second international sukuk, following a USD9bn debut deal last year. Saudi Arabia, over the past two years, has raised USD50bn through international conventional and Islamic bonds. It covered most of its hard currency funding needs for this year with a USD11bn bond sold in April, Head of the Kingdom’s debt management office, Fahad al-Saif, told Reuters after that debt sale.