UAE Ministry of Finance Places $1.5 Billion Dollar Sovereign Bonds with 4.91% Yield
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UAE Ministry of Finance Announces $1.5 Billion Sovereign Bond Placement
On Tuesday, the UAE Ministry of Finance made an important announcement regarding the placement of $1.5 billion sovereign bonds. These bonds have a duration of 10 years and will mature in September 2033.
Bond Yield and Listing Details
The ministry stated that the bond yield has reached 4.91%, which is 60 basis points higher than the yield on US Treasuries. Additionally, the bonds will be listed on both the London Stock Exchange and Nasdaq Dubai.
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Strong Investor Interest
The bond placement has attracted significant interest from local, regional, and international investors. The order book received purchase orders totaling $7.4 billion, which is five times the size of the bond issue. This high demand showcases the confidence and trust investors have in the UAE’s financial market.
Conclusion
The UAE Ministry of Finance’s recent announcement regarding the $1.5 billion sovereign bond placement has generated excitement in the financial world. With a competitive bond yield and strong investor interest, this placement is expected to contribute positively to the country’s economic growth.
Source: YOU
