This issuance is part of the Islamic T-Sukuk issuance programme for the fourth quarter of 2024, as published on the Ministry’s website.
The auction witnessed a strong demand from eight primary dealers for both tranches maturing in May 2027 and September 2029 of the Islamic T-Sukuk, with bids received worth AED5.43 billion and an oversubscription by 4.9 times.
The success is reflected in the attractive market-driven prices, with a Yield to Maturity (YTM) of 4.30% for the tranche maturing in May 2027 and 4.38% for the tranche maturing on September 2029, representing a spread of 4 and12 bps above US Treasuries with similar maturities at the time of the auction.
The Islamic T-Sukuk issuance programme will contribute to building the UAE dirham denominated yield curve, providing safe investment alternatives for investors, strengthening the local debt capital market, developing the investment environment, as well as supporting sustainable economic growth.
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