Islamic Treasury Sukuk Auction for April 2025 Attracts Bids Worth AED 6.12Billion - Middle East Business News and Information
Oversubscription of 5.6 times.
Yield to Maturity (YTM) of 3.83% and 3.93% for May 2027 and September 2029 tranches, with spreads of up to 5 and flat basis points, respectively, over comparable US Treasuries.
The Ministry of Finance (MoF), in its capacity as the issuer and in collaboration with the Central Bank of the UAE (CBUAE) as the issuing and payment agent, successfully completed the auction of UAE Dirham-denominated Islamic Treasury Sukuk (T-Sukuk) amounting to AED 1.1 billion. This issuance forms part of the T-Sukuk issuance program for the year 2025, as published on the MoF's official website.
The auction attracted robust demand from eight primary dealers across both tranches maturing in May 2027 and September 2029. The total bids received reached AED 6.12 billion, reflecting an oversubscription rate of 5.6 times, underscoring the strong confidence of investors in the UAE's creditworthiness and Islamic finance framework.
The auction results highlighted competitive, market-driven pricing with a Yield to Maturity (YTM) of 3.83% for the May 2027 tranche and 3.93% for the September 2029 tranche. These yields represent a tight spread of 5 and flat basis points, respectively, above comparable US Treasuries at the time of issuance.
The Islamic T-Sukuk program plays a vital role in supporting the development of the UAE's dirham-denominated yield curve, offering secure investment instruments for a wide range of investors. Furthermore, it reinforces the local debt capital market, contributes to the development of the broader investment landscape, and supports the UAE's long-term economic sustainability and growth objectives.
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