UAE banks issue AED 17.3bn bonds in 2020

UAE banks issue AED 17.3bn bonds in 2020

The banks operating in the UAE have issued AED 17.3 billion bonds in 2020, according to the Central Bank of the UAE (CBUAE) as cited by the Emirates News Agency (WAM). The UAE's bond issuance has represented 37% of the total bonds issued in the gulf region during 2020, as shown by a report, published recently by the Central Bank of Kuwait (CBK). Several banks in the UAE have issued bonds with medium to long-term maturities last year, benefitting from low-interest rates and financing terms. Meanwhile, the US-denominated bonds constituted about 94.5% of the debt portfolio in the UAE.