The Central Bank of the UAE's (CBUAE) AED 1.1 bn T-Sukuk auction in July was nearly 5x oversubscribed, receiving AED 5.4 bn in bids, with participation from eight primary investors, according to a Finance Ministry statement on X and state news agency Wam.

The details: The auction included two tranches — the first tranche is set to mature in August 2028, offering a yield of 3.88%, while the second tranche will mature in 2030 with a yield of 3.95%. The yields are on par with comparable US Treasuries.

July’s auction builds on successive oversubscribed auctions over the past months, including one in June seeing 5.6x in demand and one in May which saw 6.3x in demand and received AED 6.9 bn in bids. 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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