The Central Bank of the UAE’s (CBUAE) AED 1.1 bn T-Sukuk auction in April was 5.6x oversubscribed, receiving AED 6.12 bn in bids, according to a Finance Ministry statement on X. The auction was part of the Islamic T-Sukuk issuance program for this year, Wam reports.

The details: The tranche maturing in May 2027 offered a yield of 3.83%, with a spread of 5 basis points above US Treasuries bonds of similar maturities. The tranche maturing in September 2029 provided a yield of 3.93%, with a flat basis points above US Treasuries.

It’s been a good year for Islamic treasury sukuk auctions: The AED 1.1 bn Islamic treasury sukuk issued by the CBUAE in February was 6.5x oversubscribed, attracting AED 7.1 bn in bids, while the AED 1.1 bn T-sukuk auctioned in January was 6.3x oversubscribed, attracting AED 6.9 bn in bids.

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