Nasdaq Dubai today welcomed the listing of AED 1.5 billion Dirham-denominated treasury bonds issued by the UAE Federal Government acting through the Ministry of Finance. The two tranches with a total value of AED 750 million each, are part of the AED 9 billion T-Bond issuance program for 2022.
The issuances were 5 times over-subscribed due to a strong demand worth AED 7.57 billion. This success is reflected in the attractive market driven price, which was achieved by a spread of 17 basis points over US Treasuries for the two years’ tranche, and a spread of 8 basis points over US Treasuries for the three years’ tranche.
The new listings raised the total value of the UAE Federal Government Dirham-denominated bonds listed on Nasdaq Dubai to AED 7.5 billion.