The Ministry of Finance, as the issuing authority, in collaboration with the Central Bank of the UAE (CBUAE) has announced the results of the Dh1.1 billion Islamic Treasury Sukuk (T-Sukuk) Auction.
The auction is part of the Islamic T-Sukuk issuance programme for August 2024 as published on the ministry’s website.
The auction witnessed a strong demand through the eight primary dealers for the May 2026 and May 2027 tranches of the Islamic T-Sukuk, with bids received worth Dh6.32 billion, oversubscribing the issuance by 5.7 times.
The success is reflected in the attractive market-driven prices, with a Yield to Maturity (YTM) of 4.04% on the May 2026 tranche and 3.88% on the May 2027 tranche, representing a 0 to 9 bps above US Treasuries with similar maturities at the time of the auction.
