The Central Bank of the UAE’s (CBUAE) AED 1.1 bn T-Sukuk auction in June was 5.6x oversubscribed, receiving AED 6.21 bn in bids, with participation from eight primary investors, according to a Finance Ministry statement on X on Thursday.

The details: The auction included two tranches — the first tranche is set to mature in May 2027, offering a yield of 3.88%, while the second tranche will mature in August 2028 with a yield of 3.83%. The yields represent a spread of 2 basis points above comparable US Treasuries.

June’s auction builds on successive oversubscribed auctions over the past months this year, including one in May seeing 6.3x in demand after receiving AED 6.9 bn in bids, while April’s auction drew AED 6.1 bn in bids. February’s auction was 6.5x oversubscribed and January’s AED 6.9 bn gave it a subscription rate of 6.3x.

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