The first auction of the dirham denominated UAE Treasury Bonds (T-Bonds), with a benchmark auction size of AED1.5 billion ($400 million), drew bids worth AED9.4 billion ($2.5 billion), an oversubscription of 6.3 times.
The auction by the UAE, represented by the Ministry of Finance (MoF) as the issuer, in collaboration with the Central Bank of the UAE (CBUAE) as the issuing and payment agent, is part of the AED9 billion ($2.4 billion) T-Bonds issuance program for 2022.
