CBUAE’s T-sukuk for 4Q 2024 was 4.9x oversubscribed

The Central Bank of the UAE’s (CBUAE) latest AED 1.1 bn T-Sukuk auction was 4.9x oversubscribed, pooling AED 5.4 bn in bids, according to a Finance Ministry statement posted on X. The auction was part of the Islamic T-Sukuk issuance program for 4Q 2024, Wam reports.

The details: The tranche maturing in May 2027 offered a yield of 4.3%, with a spread of 4 basis points above US Treasuries bonds of similar maturities at the time of issuance. The tranche maturing in September 2029 provided a yield of 4.38%, with a spread of 12 basis points above US Treasuries.

ALSO- Another CBUAE AED 1.1 bn T-Sukuk auction started trading on Nasdaq Dubai today, according to a bourse disclosure. The May 2027 tranche is priced at a yield of 4.57%, while the September 2029 tranche is set at 3.65%.