Fifth Auction of Treasury Bonds Continues to Achieve Exceptional ResultsSource: www.export-egypt.com 10/24/2022, Location: Middle East |
|
|
|
|
|
The United Arab Emirates, represented by the Ministry of Finance (MoF) as the issuer, in collaboration with the Central Bank of the UAE (CBUAE) as the issuing and paying agent, has announced the results of the fifth auction of the Treasury Bonds programme (T-Bonds), which is part of the AED9 billion T-Bond issuance programme for 2022 as published in the T-Bonds calendar earlier this year.
The fifth auction of the UAE T-Bond programme witnessed a strong demand through the six primary bank dealers, with bids received worth AED7.57 billion, and an over-subscription by 5.0x. The strong demand was across both tranches with a final allocation of AED750 million for the 2-year tranche and AED750 million for the 3-year tranche, with a total of AED1.5 billion issued in the third auction. The success is reflected in the attractive market driven price, which was achieved by a spread of a 17bps over US Treasuries for two years, and a spread of 8 bps over US Treasuries for 3 years. The fifth auction followed the practice of re-opening the T-Bonds which helps in building up the size of individual bond issues over time and improve liquidity in the secondary market. The T-Bonds programme will contribute in building the UAE dirham denominated yield curve, strengthening the local debt capital market, developing the investment environment, providing safe investment alternatives for investors, as well as supporting sustainable economic growth. |
|
|
Financials and Investment News in United Arab Emirates >> |
 |
|||||
|
Egypt >> 11/21/2024 - An International Monetary Fund (IMF) mission led by Ivanna Vladkova Hollar wrapped up in-person discussions with Egyptian authorities in Cairo regardi...
|
Egypt >> 11/21/2024 - The Engineering Export Council of Egypt (EEC) revealed that engineering industry exports increased by 25.6 percent from January to September, reaching...
|
|
Egypt >> 11/20/2024 - Prime Minister Dr. Mostafa Madbouly held a meeting this morning at the government headquarters in the New Administrative Capital with Mr. Chang Won Sa...
|
Egypt >> 11/20/2024 - Egyptian Prime Minister Moustafa Madbouly, with Mahmoud Esmat, Minister of Electricity and Renewable Energy Minister, and Sultan Al Jaber, UAE Ministe...
|
|
Egypt >> 11/20/2024 - Egypt and Australia have seen a significant surge in their bilateral trade relationship, with the trade volume increasing from $270 million in 2015 to...
|
Egypt >> 11/20/2024 - Egyptian Prime Minister Moustafa Madbouli chaired the Cabinet’s weekly meeting in the New Administrative Capital.
The Cabinet is set to add... |
| United Arab Emirates Oil & Gas 1 >> 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | 13 | 14 | 15 | 16 | 17 | 18 | 19 | 20 | 21 | 22 | 23 | 24 | 25 | 26 | 27 | 28 | |
