Fourth auction of dirham treasury bonds oversubscribed 5.7 times – The National

Fourth auction of dirham treasury bonds oversubscribed 5.7 times – The National

The fourth auction of the UAE's conventional dirham-denominated treasury bonds was oversubscribed by more than 5.7 times and achieved bids worth Dh8.6 billion ($2.34bn), the government said on Monday.

The latest auction, which witnessed the first issuance of five-year T-bonds, received strong demand through the six primary bank dealers.

T-bonds are fixed-rate government debt securities that pay semi-annual interest payments until maturity, and they are also considered to be relatively risk-free, online financial encyclopaedia Investopedia said.