Dubai: “Gulf”
The United Arab Emirates’ Ministry of Finance has announced the results of the second auction of Treasury bonds (“D-bonds”) denominated in United Arab Emirates Dirhams as part of the Treasury Bond Issue for 2022. Bonds calendar at the beginning of this year.
The ministry, which is co-issuing and issuing payments as Emirates Central Bank, saw strong demand from six major distributors in the second auction of the Treasury securities program for bids worth $ 9.7 billion. Dirhams were received, and the subscription amount was 6.5 times higher. Demand was strong in two installments, with the final allocation for two-year bonds at 750 million dirhams and 3-year bonds at 750 million dirhams, for a total of 1.5 billion dirhams. The success in market-driven premium rates reflected the spread of 27 basis points across the U.S. Treasury over two years. Re-issue (“re-opening”) was implemented in this auction to build the volume of personal bond issues with the aim of improving cash flow in the secondary market.
Treasury bonds in local currency form the yield curve specified in UAE dirhams and provide secure investment alternatives for investors, thus helping to increase the competitiveness of the local credit capital market, improve the investment environment and support a sustainable economy. Development.
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