Islamic Treasury Sukuk auction for February 2025 attracts bids worth AED7.1 billion

WAM
26 Feb 2025, 19:18 GMT+10

ABU DHABI, 26th February, 2025 (WAM) -- The Ministry of Finance (MoF) as the issuer, in collaboration with the Central Bank of the UAE (CBUAE) as the issuing and paying agent, announced the results of the Islamic Treasury Sukuk (T-Sukuk) auction denominated in UAE dirhams, amounting to AED1.1 billion.

This issuance is part of the Islamic T-Sukuk issuance programme for the first quarter of 2025 as published on the Ministry's website.

The auction witnessed a strong demand from the eight primary dealers for both tranches maturing in August 2028 and September 2029, of the Islamic T-Sukuk, with bids received worth AED7.1 billion and an oversubscription by 6.5 times.

The success is reflected in the attractive market driven prices, with a Yield to Maturity (YTM) of 4.18 percent for the tranche maturing in August 2028 and 4.21 percent for the tranche maturing on September 2029, representing a spread of one basis point 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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