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UAE issues AED 1.5B T-bonds

UAE issues AED 1.5B T-bonds

The UAE has issued AED-denominated treasury bonds (T-bonds) worth AED 1.5 billion (around $400 million), CNBC reported on April 20th, citing the Ministry of finance.

The first auction is expected to take place in May as per the market conditions, followed by a series of auctions, in line with the proposed issuance plan for 2022.

The date of the auction will be announced soon and the plan will be published on the website of the finance ministry.

The T-bonds are set to support the local bonds debt market and the yield curve in the medium term.

The bonds will be initially issued in tranches ranging between two-, three- and five-year terms; followed by a 10-year bond at a later date.

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