The UAE, through the Ministry of Finance (MoF) in collaboration with the Central Bank of the UAE (CBUAE), conducted an Islamic Treasury Sukuk (T-Sukuk) auction totalling Dh1.1 billion.
This issuance is part of the Islamic T-Sukuk issuance programme for the fourth quarter of 2024.
The auction attracted substantial interest from eight primary dealers, with bids amounting to Dh5.43 billion, resulting in an oversubscription rate of 4.9 times.
The Yield to Maturity (YTM) was set at 4.30% for the tranche maturing in May 2027 and 4.38% for the tranche maturing in September 2029, representing spreads of 4 and 12 basis points above US Treasuries of similar maturities, respectively.
This issuance aims to build a UAE dirham-denominated yield curve, provide safe investment alternatives, strengthen the local debt capital market, and support sustainable economic growth.
