UAE Ministry of Finance goes for second Dh1.5b Treasury Bond auction
The second auction is part of the Dh9b T-Bonds issuance program for 2022
Dubai: The UAE Ministry of Finance is launching a second dirham-denominated treasury bond auction, offering Dh1.5 billion distributed over two tranches.
This will be a two-year tranche valued at Dh750 million, and a three-year tranche valued at Dh750 million. The auction will be held on June 20 (Monday).
According to the ministry, the first auction of the dirham denominated T-Bonds program received huge interest from local and international investors.
“The UAE will continue to implement its plan to issue local bonds for 2022 through more subsequent periodic auctions,” the Ministry of Finance said in a statement. “The conventional T-bonds will be denominated in UAE dirhams to develop the local bonds debt market and develop the mid-term yield curve.”
The securities will be issued initially in 2-, 3- and 5-year tenures; followed by a 10-year bond at a later date.