UAE c. bank draws AED6.91b in Islamic sukuk bids

The UAE Central Bank, acting as the issuing and paying agent for the Ministry of Finance, attracted AED6.91 billion in bids for its AED1.1 billion Islamic Treasury Sukuk (T-Sukuk) auction for January, achieving an oversubscription rate of 6.3 times.

The auction featured tranches maturing in May 2027 and September 2029, with yields of 4.32 per cent and 4.43 per cent, reflecting spreads of 7 and 10 basis points over comparable US Treasuries.

Part of the first-quarter 2025 T-Sukuk programme, the issuance bolsters the UAE dirham-denominated yield curve, strengthens the local debt capital market, and supports sustainable economic growth.

Attribution: Emirates Press Agency (WAM)

Subediting: Y.Yasser