Islamic Treasury Sukuk auction for May 2025 attracts bids worth AED6.93 billion

WAM
22 May 2025, 19:18 GMT+10

ABU DHABI, 22nd May, 2025 (WAM) -- 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, announced the successful completion of the May 2025 auction of UAE Dirham-denominated Islamic Treasury Sukuk (T-Sukuk) amounting to AED1.1 billion. This issuance forms part of the T-Sukuk issuance programme for the year 2025, as published on the MoF's official website.

The auction attracted robust demand from eight primary dealers across both tranches - re-opening of the May 2027 tranche and the newly issued 5-year tranche maturing in May 2030. The total bids received reached AED6.93 billion, reflecting an oversubscription rate of 6.3 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 3.99% for the May 2027 tranche and 4.06% for the May 2030 tranche. These yields represent a tight spread of 2 and flat basis points, respectively, above comparable US Treasuries at the time of issuance.

The Islamic T-Sukuk programme 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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