UAE Islamic Treasury Sukuk Auction Draws $1.42B in Bids
The April issuance was oversubscribed 4.7 times across two tranches.
The Ministry of Finance in the United Arab Emirates attracted bids worth $1.42 billion in its April 2026 Islamic Treasury Sukuk auction, issuing Dh1.1 billion across two tranches.
The issuance was conducted in coordination with the Central Bank of the UAE, acting as issuing and payment agent, and drew participation from eight primary dealers.
Total bids reached Dh5.20 billion, representing an oversubscription of 4.7 times. The auction included a tranche maturing in October 2027 and a second issuance of a 7-year sukuk maturing in February 2033.
The additional 7-year tranche recorded a five-times coverage ratio and was priced at 10 basis points above US Treasury yields. Yields to maturity for the April issuance were 3.92% for the October 2027 tranche and 4.13% for the February 2033 tranche.
The sukuk are listed under the UAE Treasury Islamic Sukuk Programme on Nasdaq Dubai.
The programme is designed to support the development of a dirham-denominated yield curve, expand investment options and strengthen the local debt capital market.
