Sixth auction of dirham treasury bonds oversubscribed 4.5 times – The National

Sixth auction of dirham treasury bonds oversubscribed 4.5 times – The National

The sixth auction of the UAE's conventional dirham-denominated treasury bonds was oversubscribed by 4.5 times and achieved bids worth Dh6.72 billion ($1.83 billion), the government said on Monday.

The latest auction 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.