UAE, 26 December, 2024 : The Ministry of Finance (MoF), in collaboration with the Central Bank of the UAE (CBUAE), announced the results of its October 2024 Islamic Treasury Sukuk (T-Sukuk) auction, raising AED 1.1 billion. The issuance, part of the fourth-quarter programme, saw bids worth AED 7.2 billion, oversubscribed by 6.5 times.
The auction featured two tranches maturing in May 2027 and September 2029, with yields to maturity of 4.10% and 4.12%, respectively, reflecting spreads of 10 and 12 basis points above comparable US Treasuries.
The Islamic T-Sukuk programme aims to establish a UAE dirham-denominated yield curve, offer secure investment opportunities, bolster the local debt market, and promote sustainable economic growth.
Source : www.mof.gov.aeRelated Posts
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