UAE launches domestic dirhams treasury bonds worth AED1.5bn
- Date: 21-Apr-2022
- Source: The Gulf Time
- Sector:Financial Markets
- Country:UAE
UAE launches domestic dirhams treasury bonds worth AED1.5bn
Local News, News
Abu Dhabi / WAM
The UAE, 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, announced the launch of conventional AED denominated Treasury bonds of the government of the UAE (T-Bonds), with benchmark auction size of AED1.5 billion (circa $400 million).
Subject to market conditions, the first auction date to be held in May 2022 is expected to be announced soon, followed by a series of periodical auctions as published in the issuance calendar for 2022 on the MoF website.
The conventional T-Bonds will be denominated in UAE dirhams to develop the local bonds debt market, and ultimately, the aim is to help develop the mid-term yield curve. The securities will be issued initially in 2/3/5 year tenures; followed by a 10-year bond later.
These securities will be auctioned and traded through Bloomberg’s Auction System and settled through a local platform, compliant with international standards, built and operated by Euroclear Bank.
The Ministry of Finance and the UAE central bank worked with relevant government entities and international financial bodies to ensure
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